Dolphins Rumors: Cedrick Wilson Jr. Restructures Contract Amid Taylor Trade Rumors

As the Miami Dolphins continue to be linked to Jonathan Taylor, the team opened up cap space by restructuring Cedrick Wilson Jr.'s contract.

Per NFL Network's Ian Rapoport, the Dolphins opened up $3 million in cap space after getting Wilson to agree to a deal that will pay him $5 million in base salary with the potential to earn $7.25 million total.

The Dolphins have been the most-talked-about team in the Taylor sweepstakes as the 24-year-old seeks a trade from the Indianapolis Colts.

It's unclear at this point if the Colts will find an offer to their liking that gets them to accept a deal for Taylor. The Athletic's Dianna Russini reported earlier in the day they haven't been presented with a "significant offer."

Per ESPN's Stephen Holder, the Colts have given Taylor until Tuesday to find a trade partner. The 2021 Pro Bowler is owed $4.3 million in base salary this season, the final year of his rookie contract.

Any team looking to acquire Taylor would potentially have to work out an extension with him ahead of time. Josina Anderson of CBS Sports HQ reported on Monday at least two teams were still actively engaged in trade talks with the Colts and are "mutually willing" to give him a "market contract" if a deal gets done.

Per The Athletic's Mike Jones, rival teams and player representatives believe Taylor wants a deal in the range of $14-15 million per season.

Wilson signed a three-year, $22.8 million deal with the Dolphins as a free agent in March 2022. He fell out of favor quickly thanks to the addition of Tyreek Hill and Trent Sherfield's emergence as the No. 3 receiver.

In 15 games last season, Wilson was targeted just 18 times and caught 12 passes for 136 yards without a touchdown. He was coming off a career year in 2021 with the Dallas Cowboys when he had 45 receptions, 602 yards and six touchdowns.

Regardless of what might happen with Taylor, Wilson's spot on the roster may have been tenuous before he agreed to restructure his deal. Hill, Jaylen Waddle, Braxton Berrios and River Cracraft will likely be the top four receivers on the roster.