Dolphins' Updated Salary Cap, Depth Chart After Odell Beckham Jr.'s NFL FA Contract

Three-time Pro Bowl wide receiver Odell Beckham Jr. is joining the Miami Dolphins on a one-year deal, $3 million deal, according to ESPN's Marcel Louis-Jacques.

NFL Network's Tom Pelissero was the first to report on the deal, which is worth up to $8.25 million with incentives.

Loading the contract with incentives allowed the Dolphins to fit Beckham in their available cap space, which was $3.78 million heading into Friday, per Barry Jackson of the Miami Herald.

After rolling out one of the best quarterback-receiver duos in the NFL last season, the Dolphins have now added another top target for quarterback Tua Tagovailoa.

The Dolphins will station Beckham next to Tyreek Hill and Jaylen Waddle in three-receiver sets after the two speedsters combined for 2,813 receiving yards and 17 touchdowns in 2023.

Beckham will presumably slot in as a No. 3 receiver behind them after recording 565 receiving yards and three touchdowns in 14 games and three starts for the Baltimore Ravens in 2023.

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Dolphins' Updated Depth Chart

QB: Tua Tagovailoa, Mike White, Skylar Thompson

RB: Raheem Mostert, De'Von Achane, Jaylen Wright

WR: Tyreek Hill, Braxton Berrios

WR: Jaylen Waddle, River Cracraft

WR: Odell Beckham Jr., Malik Washington

TE: Jonnu Smith, Durham Smythe

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Miami previously restructured multiple player contracts, including those for running backs Raheem Mostert and Nick Chubb as well as cornerback Jalen Ramsey, to become cap-compliant by the March 13 deadline.

The club currently has less than $1 million in cap space remaining, but will likely have more room to maneuver in June. The Dolphins have designated cornerback Xavien Howard as a post-June 1 cut, at which point Miami will collect $18.5 million in salary cap savings.

For now, the Dolphins have prioritized adding a WR3 to replace Cedrick Wilson Jr., who played the role last season but has left for the New Orleans Saints.

Miami led the league with more than 401 passing yards per game last season. After Hill and Waddle combined for 275 targets last season, the Dolphins could be looking to avoid overworking the star duo by spreading out targets in what is likely to be another pass-heavy offense in 2024.

That could explain why the Dolphins signed Beckham after already using two picks in the 2024 draft to select receivers with Virginia's Malik Washington (pick No. 184) and USC's Tahj Washington (pick No. 241) joining the fold.

Washington was originally projected as a potential WR3, but figures to still see the field quite a bit as a rookie. He totaled 110 receptions for more than 1,400 yards during his 2023 season at UVA, but at 5'9'' is a bit undersized compared to Beckham.

Both Berrios and Cracraft are expected to return in the backup receiver roles they played for Miami last season.

Durham Smythe, who led Miami tight ends with 366 receiving yards last season, is also expected to transition to backup as the Dolphins prepare to start newly signed tight end Jonnu Smith.

Smith could join Beckham as a second-tier target behind Hill and Waddle after recording a career-high 583 receiving yards for the Atlanta Falcons last season.