Dolphins’ 2025 spending trends reveal dramatic shift in strategy that is only going to get more extreme
Much of the focus around a team’s financial ability to add talent and be competitive in the NFL is rooted in the team’s standing with the salary cap. The general perception is that teams with cap space are well-positioned to spend at any point, and those without space at any given point are not. It’s […]
Much of the focus around a team’s financial ability to add talent and be competitive in the NFL is rooted in the team’s standing with the salary cap. The general perception is that teams with cap space are well-positioned to spend at any point, and those without space at any given point are not. It’s generally fair to assume that more cap space is better than less, but the fluidity and flexibility of a team’s spending power blur those lines. Teams have become so adept at squeezing every ounce of power out of the dollar that commissioner Roger Goodell recently went on the record, stating owners are focused on the “integrity” of the cap system.
The Miami Dolphins are a team that has pushed the limits of the cap in recent years. Miami did not go full-steam ahead at spending every possible dollar and deferring the debts down the road, but this is a team that has ranked inside the top five in cash spending over the last five seasons of play from 2020 through 2024. The team’s spending last year was less focused on a big free agency pool but instead on handing out a slew of extensions, including to quarterback Tua Tagovailoa, wide receiver Jaylen Waddle, and cornerback Jalen Ramsey. The team also re-shuffled the cash schedule for wide receiver Tyreek Hill last fall.
The times, they are a-changin. The Dolphins are looking to find a dance partner to offload Ramsey in the coming weeks, and the situation appears to be untenable to smooth over. Miami was reserved in free agency this offseason, their biggest commitment going to guard James Daniels on a three-year, $24 million contract. The team has yet to commit to any big contract extensions this offseason — a byproduct of some of the uncertainty around the long-term scope of the team, for sure. Terron Armstead has retired. Bradley Chubb took a pay cut to stay with the team. And then there’s that lingering issue with Ramsey.
After ranking in the top five since 2020 in cash spending, the Dolphins currently rank 11th in the NFL for 2025. That is before the Dolphins unload whatever they can for Ramsey. There’s potential for up to an additional $21 million in cash savings by moving Ramsey this summer. The team is likely going to have to pay some of Ramsey’s remaining cash owed this year to get a trade partner willing to jump into the pool. If that wasn’t certain before, it’s almost a certainty now after the news broke this morning that the Packers were releasing Jaire Alexander.
If Ramsey’s full cash commitments were to be accepted by another team, it would send the Dolphins down to 22nd in the NFL in cash spending this season in accordance to OverTheCap’s current totals. The team would then, of course, have to sign a replacement cornerback and could be looking at extensions for tight end Jonnu Smith and defensive tackle Zach Sieler if the price is right in the weeks ahead.
This is a natural part of the NFL’s team lifecycle. But the Dolphins accelerated their need for a year that’s low on cash burn by trading rookie draft picks for big contracts like Bradley Chubb, Tyreek Hill, and Jalen Ramsey in the middle of their most recent build. Two of the three had their contracts re-worked last summer, with multiple years left on their deals to push more money forward into 2024. Whoops!
This team is paying the price for it now, with the hope being that the team can compete and overachieve through the dip in spending. If the Dolphins do that in 2025, expect to see this team add another hefty round of draft picks next offseason before cycling up some more aggressive spending once again to fill in the blanks. If they don’t, it may be someone else coaching the team and calling the shots on how to build the roster when it’s time to ramp up spending more of Stephen Ross’s money in the next year or two.
The Dolphins rank among NFL leaders in usage of clever salary cap tool but the recent trend tells a different story
The NFL's recent trends in salary cap strategy have recently come under fire courtesy of some comments made by NFL commissioner Roger Goodell last month. The spotlight was cast on the "integrity" of the league's cap system, per the comments by Goodell, as owners begun to focus their attention on where they want to focus […]
