Following a disappointing 7–10 finish and a late-season benching of Tua Tagovailoa, the Miami Dolphins entered 2026 by hitting the ultimate reset button. After firing both GM Chris Grier and Head Coach Mike McDaniel, the new regime of Jon-Eric Sullivan and Jeff Hafley has plunged the franchise into a historically unprecedented “dead money” crisis to clear the books.
By absorbing a record $182 million in dead cap, including nearly $100 million from Tagovailoa alone, Miami is sacrificing the 2026 season to stockpile draft capital and execute a roster reconstruction never before attempted in the NFL.
Dolphins set to make huge restructuring after Tua Tagovailoa release
The Tua Tagovailoa era in Miami ended quietly. After throwing a career-high 15 interceptions and spending the final three games of 2025 on the bench, the Dolphins released him on March 9.
New GM Jon-Eric Sullivan chose a different direction at quarterback, and Tagovailoa soon signed a one-year, $1.3 million deal with the Atlanta Falcons. While his wife, Annah, noted on Instagram that the family is ready for their next chapter in Georgia, the financial mess left behind in Miami is historic.
Ex Miami Dolphins quarterback Tua Tagovailoa
Oct 30, 2025; Miami Gardens, Florida, USA; Miami Dolphins quarterback Tua Tagovailoa (1) throws downfield during the second quarter against the Baltimore Ravens at Hard Rock Stadium. Mandatory Credit: Sam Navarro-Imagn Images
Moving on cost the Dolphins $99.2 million in “dead money” for Tagovailoa’s contract alone—the largest single-player cap hit in NFL history. Combined with the departures of Tyreek Hill and Jaylen Waddle, Miami is now stuck with $182.29 million in total dead cap for 2026. Essentially, 60% of the team’s spending power belongs to players who aren’t even on the roster, leaving just $133 million to build a full 53-man team.
This deficit has forced the Dolphins into an extreme experiment. To fill the locker room, they signed 43 players to league-minimum salaries, nearly double the NFL average. Only 10 players on the entire roster make more than $2 million this year.
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ESPN’s Adam Schefter broke down just how extreme Miami’s situation is, noting that with over $175 million in dead cap money against a $308 million salary cap, the Dolphins are left with roughly $133 million to spend. Much of the roster is built on minimum contracts. He also said GM Jon-Eric Sullivan and head coach Jeff Hafley have support from owner Stephen Ross, but that patience will not last forever.
“The salary cap this year will be about $308 million. The Dolphins have over $175 million in dead cap money, so we’re talking about a team that basically has $133 million against the salary cap to go spend this year,” Schefter said on his podcast with Ty Schmidt.
Miami is taking on the largest cap hit in NFL history with Tua Tagovailoa, and attempting to do something no other team has done before.
With @tyschmit
🎧 https://t.co/qroepfuXlF pic.twitter.com/NuWdbeqwDj
— Adam Schefter (@AdamSchefter) March 25, 2026
He added, “They have 43 players signed for the minimum wage right now. The next highest in the league is 31. We’ve never seen a team ever try to do what the Dolphins are about to try to do.”
Malik Willis is the projected starter after signing a three-year, $67.5 million deal to lead this transition. Behind him is Quinn Ewers, the rookie who stepped in when Tagovailoa was first benched.
While owner Stephen Ross is reportedly being patient with the new front office, the team’s best hope lies in the 2026 draft, where they hold 11 picks, including seven in the top 100, to try to rebuild from scratch.