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The only way to save money on special teams is to ask a Pro Bowl punter to take a pay cut.
Should any punter ever get paid more than $2 million? I don't think so, but Jeff Ireland apparently did.
Now Brandon Fields is probably the best punter in the NFL, and he was important to the Dolphins this season (and has been since joining the Dolphins). However, based on his position, he's overpaid.
Restructuring the deal might be a good idea but keep this in mind: Fields is under contract until 2016 and gets a pay raise in each season that follows.
I wouldn't try to replace him, either, simply because he is the best punter in the AFC, and his guaranteed $1.93 million would count against the cap as dead money.
This is likely best left alone.
But overall, the Dolphins are in pretty good shape salary-cap wise, and with some savvy moves, they can get into even better shape.
Now let's just find the person to do it.
All salary cap information provided by Spotrac.com unless otherwise noted.