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The Miami Dolphins are currently piecing together the final pieces of strategy to open their 2021 offseason – while facing the challenge of strengthening their roster on multiple fronts in their attempt to create the most comprehensive roster possible. For Miami, this proposition is a bit more difficult than initially expected due to the reduced salary cap in 2021 due to the revenue sharing losses of the 2020 season.
Miami is still in a much healthier place than many other teams – but they will still need to be strategic in how they allocate their cap space for the season ahead.
Such an underrated strategy for saving cap space may be linked to the 2021 NFL Draft and, more specifically, to the downside from the No.3 overall pick. Yes, Miami has a chance to find a top-notch player, but the request for a quarterback may prove too untimely for Miami as they look to explore all options and select No.3.
How could a trade help the Dolphins ceiling?
It depends on how much the team plans to cut. Current projections for rookie wages in the 2021 NFL Draft can be found thanks to Over The Cap – and the 2021 cap price for owning the No. 3 overall pick is heavy.
According to Over The Cap, Miami’s expected cap for the No. 3 overall pick is $ 6,201 million and a total contract that equates to 4 years, $ 34.105 million plus a 5th year option for the club. That’s not a small number and would be the Dolphins 9th biggest hit of the 2021 season behind:
- CB Byron Jones – $ 16.1M
- CB Xavien Howard – $ 13.5M
- WR DeVante Parker – $ 12.11M
- Flowers IOL Ereck – $ 10M
- BY Shaq Lawson – $ 9.83M
- FROM Emmanuel Ogbah – $ 7.5M
- FS Bobby McCain – $ 7.14M
- QB Tua Tagovailoa – $ 6.88M
But that number is not set in stone, and dolphins can guarantee a lot more leeway if they actually trade and add more choices. If the Carolina Panthers were just calling about a trade for the No.3 pick to draft a quarterback of their choice, Miami would realize some capitalization savings, especially if they are able to make picks in the future and subsequently draft players this year who can. replace a handful of expensive players.
Carolina, for example, should send out picks 8 and 39 at a minimum in any trade with the Dolphins, plus a future 1st round pick. Does the cap charge for these assets?
- No. 8 in total: $ 3.838 million
- # 39 in total: $ 1.525 million
- 2022 1st round pick: draw against the 2021 cap
The savings from that root trade would be just under $ 800,000 from the 2021 salary cap. But if the Dolphins could recruit an additional player at No.39 overall, say a safety receiver or an additional wide receiver, the door would be open for Miami to then move away from Bobby McCain ($ 5.659 million in trade / cut savings) or Albert Wilson. / Jakeem Grant ($ 5.737 in combined savings if both cut).
The gains are even more noticeable as Miami is willing to slide down in order. Suppose the No. 12 San Francisco 49ers are desperate to jump in order and offer Miami a “sponsorship deal” – a deal they can’t turn down. San Francisco’s projected ceiling allocations for their important choices are as follows:
- No. 12 total: $ 3.105 million
- # 43 in total: $ 1.435 million
- # 103 in total: $ 870,000
Miami could return a top-12 pick and return additional picks in the 2nd and 3rd rounds of 2021, more likely to add multiple picks early in the round for 2022 (at least one first-round pick in 2022 plus another premium pick from 2023 1st – round pick or 2nd round pick in 2022) for the same financial savings that a trade to pick No. 8 with Carolina would pay off. And again, the cascading effect of drafting more high-quality players early this year and the savings opportunities that may open up in Miami to move away from the players currently on the roster will still have more impact.
The dolphins will have to weigh all their options. But one thing we do know is that the Dolphins, if they had all of these picks for the 2021 NFL Draft, will have many factors contributing to their decision-making process; including the cap.
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