The Miami Dolphins are undeniably financially constrained. They needed to modify contracts to get working capital, which they did again on Thursday.
While many are questioning why the Dolphins have not yet restructured Tua Tagovailoa’s contract, the team is making other steps to clear room. On Thursday, the Dolphins freed up another $7.7 million as they continued to add players through free agency.
Austin Jackson, who missed the majority of the 2025 season, has agreed to convert $9.7 million into a signing bonus, significantly lowering his budget hit this year. Miami will divide the $9 million over the next few years.
Dolphins receive immediate cap relief, but it may cause concerns in the future.
The modified agreement moves the can down the road. The Dolphins will still have to pay that money in future years, which becomes more problematic if he is no longer on the roster by then.
When fit, Jackson has performed well at the right tackle position, but his health is a problem. Miami has an out after the 2025 season if Jackson was unable to stay healthy. At this time, it’s unknown how much money the Dolphins would save if they let him go.
According to Over The Cap, the Dolphins now have more than $18 million to work with, but they must reserve some of that for the youngsters they choose in April. The working capital is estimated to be roughly $14 million.
While Jackson, Armstead, and Bradley Chubb have all renegotiated their contracts, Tagovailoa has yet to do the same. That has sparked speculation regarding his long-term prospects.
The Dolphins need Jackson to stay healthy this season, and he might go inside to guard if the team drafts a tackle in April. Again, when Jackson is on the field, the Dolphins’ offense improves and they run the ball more consistently to that side.
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