The Dolphins made some cost-cutting moves this offseason to balance the team’s books, with the goal of making Miami financially fit for the coming seasons.
That meant parting ways with former starters like Kyle Van Noy, Shaq Lawson, Ereck Flowers, Bobby McCain, Ryan Fitzpatrick and Davon Godchaux, and replacing them with more cost-efficient (cheaper) options.
As a result, the Dolphins will enter the 2021 season with only 10 players on the training camp roster who will earn more than $4.5 million in salary and bonuses this season.
Here is a look at the highest-paid Dolphins in 2021 based on their signing bonuses, base salaries and roster, workout and performance bonuses:
1. Receiver Jaylen Waddle — $17,718,904
The rookie receiver got $17,058,904 of his four-year, fully guaranteed $27 million contract in a signing bonus that is paired with his $660,000 base salary. That brings his total payment for the first year of his contract to $17,718,904. While Waddle’s Year 1 seems a bit high, its important to understand teams pay the freight of a draftees contract in the signing bonus, making the young player more affordable in the seasons that follow. For instance, Waddle will earn the remaining $9 million-plus he’s owed in the following three years.
2. Cornerback Byron Jones — $14 million
The Dolphins owe Jones $14 million in base salary this season, and it is the second — but not final — installment of the $46 million in guaranteed money both parties agreed to last offseason when the former Cowboys starter signed a five-year, $86 million deal with Miami, which at the time made him the highest-paid cornerback in the league. Jones has a little protection in case the Dolphins start getting buyer’s remorse because $8,375,000 of next year’s $14,375,000 salary is guaranteed.
3. Cornerback Xavien Howard — $12.1 million
The Dolphins will pay Howard $12.1 million this season, if he participates in the offseason program, which he hasn’t attended so far. If Howard’s absence continues he’ll forfeit $25,000, and send message to the organization about his contractual concerns. This is the final portion of the five-year, $75.25 million contract he signed in 2019 that is guaranteed. Howard and his representatives have asked the Dolphins to improve his contract, guaranteeing more money and making him the team’s highest-paid defender.
4. Receiver Will Fuller — $10.6 million (with $3M more available in performance incentives)
Fuller, Miami’s biggest free-agent addition this spring, received $9,635,011 of his one-year, $10.6 million deal as a signing bonus this offseason. That leaves $990,000 to be paid this season in base salary. Fuller also has $3 million more in bonuses available to him in performance escalators tied to his receptions, receiving yards and touchdowns. If the Dolphins possess a top-20 offense and Fuller catches 70 or more passes for at least 1,250 yards and scores nine of more touchdowns, he’ll receive all $3 million. But there are lower-tier thresholds on receptions, yardage and touchdowns that will pay him portions of those bonuses.
5. Receiver DeVante Parker — $7,750,000 million (with another $1.85M available in bonuses)
Parker has one of the highest, but most fiscally responsible deals on the roster. He’ll earn $7,750,000 in base salary, and has the potential to earn $500,000 in per game bonuses, and another $100,000 in a workout bonus for participating in the offseason program. Parker also has $1,125,000 in performance escalators tied to receptions and receiving yards. If he maxes out all his bonuses he’ll take home as much as $9,475,000. In 2022 he’s slated to earn $5,750,000 in base salary and a workout bonus, and in 2023 he’s scheduled to make $5,800,000 in base salary and workout bonuses. While there’s $1M worth of bonuses that pay him roughly $30,000 for each game played in those seasons, Parker is scheduled to make a max of $12.6M total for the 2022 and 2023 season, which means he’ll be paid like an NFL backup if both sides honor the final two years of the deal.
6. Linebacker Jaelan Phillips — $8,052,128
Phillips, the former University of Miami standout the Dolphins selected 18th overall in the 2021 NFL draft, will receive $7,392,128 of his four-year, $13.8 million contract as a signing bonus when his representatives and the team come to terms on the agreement. Pair that with his $660,000 rookie salary and he’ll make $8,052,128 this season. But like Waddle, the bulk of his rookie contract comes in the first year, mostly in a signing bonus, and he’ll receive approximately $5.75M in the three years that follow.
7. Linebacker Benardrick McKinney — $7 million (with $750,000 worth of per game bonuses available)
Miami acquired McKinney from the Texans in a deal that sent Lawson to Houston for the former Pro Bowler, who has three years left on a five-year, $51 million deal that has a fairly manageable salary. The seven-year veteran will be paid $7 million this season in base salary, and he has $750,000 worth of per game roster bonuses. Next year his salary jumps to $8.75M with $750,000 in per game roster bonuses, and he’s slated to make $9 million in 2023 with another $750,000 in roster bonuses. Because the guaranteed portion of his contract has been exhausted each season is an opt-in, or opt-out, year for the Dolphins, who can get roughly an identical amount of cap space by releasing him. So view this season as a tryout year for McKinney as both parties determine if he’s a good fit for the organization, and coach Brian Flores’ scheme.
8. Defensive end Emmanuel Ogbah — $7.5 million (with $25,000 available in workout bonuses)
Ogbah, who had a breakout season in 2020, is the one respectable free-agent signing of the 2020 offseason. While Miami seemingly regretted most of the deals it signed that year, Ogbah looks like a bargain heading into 2021 because he’ll earn just $7,525,000, which is inexpensive for a player who delivered 42 tackles and nine sacks last season. But this is the last year of his deal, which means his future with the team is uncertain unless a new deal gets done before he reaches free agency next year. Miami could also use the franchise or transition tag to ensure he returns in 2022 if he has another impactful season.
9. Quarterback Jacoby Brissett — $5 million (with another $2.5M available in performance bonuses)
The Dolphins added the former Palm Beach Dwyer High standout this offseason to replaced Fitzpatrick, hoping that his brief experience as an NFL starter and history with Flores from their days together in New England would make him the ideal backup for Tua Tagovailoa. Brissett received $2.5 million in a signing bonus, and will earn $2.5 million in base salary. He has another $2.5 million available in incentives tied to performance on the field.
10. Safety Eric Rowe — $4,525,000 (with the potential to earn another $1M in performance bonuses)
Rowe is entering the second year of a three-year extension he signed in 2019, which was supposed to pay him $14,250,000. He’ll earn $2M in base salary, and $2M in per game bonuses, which pays him an additional $117,647 for every game he plays in 2021. He also has a $25,000 bonus tied to his participation in the offseason program, and has another $1M tied to performance escalators that can be triggered for his statistical achievements.
