How the Miami Dolphins Should Approach 2015 NFL Free Agency

The disappointing end to the Miami Dolphins' 2014 season could lead to various tough decisions that must be made during the 2015 offseason. 

The toughest decisions will come with free agency and how the Dolphins should approach it. 

Currently, Miami is over the projected $140 million cap by $7.7 million, meaning they will have to utilize their rollover cap room from 2014 in order to have cap space. 

Despite that, adding the rollover money will only give the Dolphins $1.757 million in cap room in 2015, per OverTheCap.com. 

Because of this, Miami's free-agency strategy in 2015 is going to have to be different from their big spending approach in the last two offseasons, and in fact it will necessitate the release or restructuring of some big contracts. 

Once such a purge takes place, how should the Dolphins approach free agency? 

What would be most important is locking down two of their young stars set to hit free agency in March. 

Chris Trotman/Getty Images

The first one is Jared Odrick, a player who has developed nicely into being a key 4-3 defensive tackle in Kevin Coyle's system. 

Odrick is only 27 years old, and he has shown improvement every season, leading to career totals of 104 tackles and 16.5 sacks. With the Dolphins he's a 4-3 defensive tackle, but he has experience playing defensive end in the 4-3, as well as playing the same position in a 3-4. 

This versatility will make him an attractive player for any team willing to spend big money at the position this offseason, especially to teams who might lose out on the Ndamukong Suh-sweepstakes. 

Re-signing Odrick should be Miami's first priority this offseason, for it's hard to find a defensive tackle that can anchor your defense. 

Rob Foldy/Getty Images

The second young player for the Dolphins to lock up in 2015 is Charles Clay, although he's not as essential to the offense as Odrick is to the defense. 

Like Odrick, Clay has progressed every season and is still young, turning 26 prior to the start of the season. 

Clay was ranked 89th in last year's NFL top-100 players list, however, he showed signs of regression in 2014 as his receptions went down from 69 to 58, his yards went from 759 to 605 and his touchdowns were cut in half from six to three. 

Why should the Dolphins keep him then? 

In 2014, Clay was nursing an injury for most of the season, while Bill Lazor's new offense favored quarterback Ryan Tannehill spreading the ball around a bit more effectively. 

Clay isn't a classical tight end, but rather a playmaker, one that the Dolphins would likely need. Because of that, Miami should re-sign Clay, along with Odrick, once the money is cleared for them to do so. 

The Dolphins could also add a few pieces, however, I'd mainly stick to adding a physical running back (both Marshawn Lynch and Miami-native Frank Gore are free agents) as well as more depth in the secondary. 

If the Dolphins are to clear up and spend the big money on free agents from outside the Dolphins, doing so on a guard would be the best way to go, especially if they can make a play for San Francisco 49ers free-agent guard Mike Iupati. 

Christian Petersen/Getty Images

The Dolphins don't have the ammunition to hit too many home runs in free agency this year, but they can definitely go for some singles or doubles. The strategy should be to build through the draft this offseason while shedding themselves of some bad contracts. 

Statistics provided by Pro-Football-Reference, salary cap information provided by OverTheCap.com.  

Follow @thomasgalicia