With limited cap space and big extensions coming up, the Dolphins had some things to sort out going into the 2024 season. They have already signed Jaylen Waddle to a major extension, with Tyreek Hill probably being next. But the main man in line for an extension is QB Tua Tagovailoa. 3X Super Bowl champion Michael Lombardi explained how if the Dolphins decide to extend Tua’s contract this season, it might put the team in a difficult position.
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The Phins signed wide receiver Jaylen Waddle to a three-year extension worth $84.8 million, with $75 million guaranteed. The three-year average of the extension will rank as the fourth-highest among NFL wide receivers, while the guaranteed money will place Waddle third.
If Tua is offered an extension, it will have to be upwards of $50 million, add to that Hill’s extension, and the team will barely have anything left to pay its other players. Michael Lombardi explained this conundrum as he said,
“Tyreek Hill takes up 12% of the cap. Waddle takes up 8% of the cap. Now that’s 20% of the cap. If I go and pay Tua, you know, 35, 30% of the cap, what do I have left for the rest of my team?”
But that’s the name of the game, as Lombardi puts it. The quarterback position is getting paid at an all-time high, and the analyst thinks the Dolphins don’t have the guts to take Tagolavoia’s leave and look for another quarterback next season. And that would mean paying him big money. But will owner Stephen Ross be willing to extend Tua right now, even if it would mean the rest of the roster struggling?
Do the Dolphins Need to Extend Tagovailoa’s Contract Before Next Season?
Tua is already under contract through the 2024 season so technically, the Miami team does not have to extend his contract. He is due to make $23.1 million in the option year of his rookie first-round deal. And they could always put the franchise tag on him to hold him next offseason.
The total money and guaranteed amount Tua receives depends on whether the Dolphins’ extension is for four or five years. Tua may prefer a five-year deal, while the Dolphins might favor a four-year contract. Miami will clearly aim to keep Tua’s salary cap hit as low as possible for as many seasons as they can. Will Tua get an extension or will he find himself in Dak Prescott’s situation, having to prove himself for one more season?
