June 25, 2024

The tampering period began yesterday, and free agents can now negotiate contracts with other teams. However, no official agreements can be done until Wednesday, when free agency begins at 4:00 p.m. Eastern Time.

Because the contracts are not officially signed until Wednesday, each team must stay under the cap. The Miami Dolphins began yesterday with almost $25.2 million over the cap, and the team made personnel moves, including restructuring the contract of their standout cornerback.

The Miami Dolphins restructured the contract of their cornerback

Miami modified Jalen Ramsey’s deal, converting $13.89 million of his salary and a $11 million roster bonus into a signing bonus, adding an empty year, and freeing up $19.912 million in cap space.

As a result, his basic pay falls from $14.5 million to $1.21 million, and his cap number falls from $27.9 million to $7.9 million in 2024.
Finally, his $24.89 million restructure bonus and $8.835 million signing bonus will be spread out evenly over the next five years.
Miami is salary cap compliant after making this and other roster moves.

 Miami traded for Jalen Ramsey last offseason

Jalen Ramsey restructure helps Dolphins get under salary cap

 

Miami sent a 2023 third-round pick and Hunter Long to Los Angeles in exchange for Ramsey.

Miami and Ramsey agreed to a three-year, $55 million restructured contract with a $8.835 million signing bonus and a $35.5 million guarantee, making him an unrestricted free agent in 2026.

A meniscus tear didn’t slow Ramsey down

Ramsey suffered a meniscus rupture in training camp and will miss the first seven games of the 2023 season.
When Ramsey returned, he was back to his dominant form. He made 22 tackles, three interceptions, and five pass deflections while allowing 21 receptions on 39 targets for 259 yards, one touchdown, and a 51.1 passer rating, earning his seventh Pro Bowl appearance.

 

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