Dolphins' Updated Salary Cap After Tua Tagovailoa's Reported $212M Contract

The Miami Dolphins and quarterback Tua Tagovailoa have agreed to a four-year, $212.4 million extension, per Mike Garafolo and Ian Rapoport of NFL Network. ESPN's Adam Schefter added that Tagovailoa will be receiving $167 million guaranteed.

Before the extension, Tagovailoa was set to enter 2024 on the final year of his rookie deal after the Dolphins picked up his fifth year option for $23,171,000. Now he's under contract with the Dolphins through 2028. Per Garafolo, Tagovailoa's $53.1 million per-season average is the highest for a four-year contract in NFL history.

The yearly salary breakdown and cap numbers for Tagovailoa's contract are unknown at this time, so gauging its impact on the salary cap from 2025-2028 isn't entirely feasible as of yet.

However, we can still take some looks ahead. Per Over the Cap, the Dolphins' cap number this year is a shade over $9 million. Tagovailoa's extension has no impact on 2024, so that figures to remain the same.

Before Tagovailoa's contract, the Dolphins' cap space numbers for 2025-2028 were as follows, per Over the Cap:

• 2025: -$5,889,776

• 2026: $52,813,978

• 2027: $223,973,915

Prior to Tagovailoa's deal, the Dolphins only had wide receiver Jaylen Waddle (three-year, $84.75 million extension) on the 2028 ledger ($37,208,456 cap number). The Dolphins also have a void year for edge-rusher Bradley Chubb ($2,750,000 cap number) there as well.

Obviously, the Dolphins were going to have to do some work on the 2025 ledger in particular regardless of the new contract, but obviously general manager Chris Grier has a year to get the cap in shape.

But for now, the Dolphins are certainly pleased to extend Tagovailoa and head into the season without him under a long-term contract.

The 26-year-old is coming off his two best seasons, both of which ended in Miami playoff berths. Last season, the Dolphins finished second in scoring while Tagovailoa threw for an NFL-high 4,624 yards alongside 29 touchdowns (14 interceptions) and a 69.3 percent completion rate.