Tua Tagovailoa, Kyler Murray and the Biggest Dead Cap Hits in NFL History

As the NFL salary cap rises, teams are more willing to eat massive dead cap hits from terminated or traded contracts. General managers aren't fazed by dead money if they're ready to move on from high-profile players.

Typically, we hear about dead cap early in the new league year as teams cut and trade players at the beginning of free agency. 

Essentially, the club is on the hook for unpaid guaranteed money and signing or option bonuses if it releases or trades a player before the end of his deal, which counts against the salary cap in the year of the transaction. Teams can spread post-June 1 cap cut charges over two years. 

While dead cap isn't equivalent to cash, it matters because it limits how much a team can allocate to personnel moves. When clubs sign or acquire marquee players, these established veterans demand guaranteed money and bonuses. 

But over the last five years, we've seen teams incur dead cap hits of $26 million or more and remain competitive with well-rounded rosters.

Here's a breakdown of the top 10 biggest dead cap hits in NFL history, and how teams handled the financial debt.

10. DL Leonard Williams, New York Giants

AP Photo

2023 Dead Cap Hit: $26.9 million

To date, the New York Giants have incurred the largest dead cap hit for a defensive player. 

In September of 2023, Big Blue restructured Leonard Williams' deal to clear $11.9 million in cap space, then sent him to the Seattle Seahawks a month later. The Giants' savings mitigated the financial hit.

New York has been in rebuild mode since its playoff appearance in the 2022 season. The Giants have made financial blunders, such as Daniel Jones' extension, that have hindered them more than the $26.5 million cap hit from this trade.

Williams has now won a Super Bowl with the Seahawks. Big Blue is still trying to find its way, though cap space isn't the issue.

9. WR Stefon Diggs, Buffalo Bills

AP Photo/Kyusung Gong

Buffalo Bills wide receiver Stefon Diggs

2024 Dead Cap Hit: $31.1 million

Stefon Diggs earned Pro Bowl recognition in all four of his years with the Buffalo Bills, but the club traded him to the Houston Texans amid buzz about his rocky relationship with quarterback Josh Allen.

The Bills may have rid themselves of a potential issue before it boiled over, but they incurred a $31.1 million dead cap hit, which is the largest for a non-quarterback.

Rochester Democrat and Chronicle's Sal Maiorana explained that the Bills made the right move to clear Diggs' salary off the books, turning a $55.6 million cap hit between 2024 and 2025 into a one-year, $31.1 million charge as a result of the trade. They also saved $3.2 million in cap space.

Though Diggs saw a slight regression in his receiving yards totals between 2022 and 2023, he was still a productive wideout before the Bills sent him to Houston. Perhaps his locker room presence factored into the transaction. Regardless, Buffalo hasn't been able to add or develop a go-to receiver since his departure.

8. QB Carson Wentz, Philadelphia Eagles

AP Photo/Matt Ludtke, File

Philadelphia Eagles quarterback Carson Wentz

2021 Dead Cap Hit: $33.8 million

Carson Wentz played a significant role in the Philadelphia Eagles' successful title run in 2017. He helped lead the team to the playoffs in the following two seasons and signed a four-year, $128 million extension during the 2019 offseason.

Yet Wentz's injuries and questionable leadership likely contributed to the end of his tenure in Philadelphia. The Eagles selected quarterback Jalen Hurts in the second round of the 2020 draft, raising eyebrows about the team's quarterback situation.

The Eagles benched Wentz for Hurts in the final quarter of the 2020 season. In the ensuing offseason, they traded the former to the Indianapolis Colts for a 2021 third-rounder and a conditional 2022 second-rounder, which became a first-rounder and carried a $33.8 million dead cap hit. 

Despite the cap charges from Wentz's contract, the Eagles had a playoff-caliber roster with Hurts under center in 2021. They used the Colts' first-rounder in a trade for wideout A.J. Brown during the 2022 draft.

Eagles general manager Howie Roseman masterfully maneuvered around the dead cap hit with an in-house replacement for Wentz and won a Super Bowl years later.

7. QB Tom Brady, Tampa Bay Buccaneers

AP Photo/Peter Joneleit

Tampa Bay Buccaneers quarterback Tom Brady

2023 Dead Cap Hit: $35.1 million

After Tom Brady retired, the Tampa Bay Buccaneers had to pay the bill for his previously restructured contracts. They split the dead cap hit between 2023 and 2024, allowing the front office to manage the roster without gutting it. 

Consequently, the Buccaneers reworked several contracts to be salary cap-compliant for the 2023 league year. They also cut left tackle Donovan Smith, which saved them about $10 million. 

Because of their salary-cap restrictions, the Buccaneers couldn't spend big on Brady's potential replacement. They took a flier on Baker Mayfield, signing him to a one-year deal worth $8.5 million, and it worked out for them.

After a journeyman year, Mayfield played at a Pro Bowl level, and he signed a reasonable three-year, $100 million extension in 2024. In the same offseason, the Buccaneers signed Mike Evans and Lavonte David to extensions, which cleared cap space. They also released Shaq Barrett.

Tampa Bay's front office made shrewd cap moves to maneuver around Brady's dead cap hit while keeping the team's playoff window open with Mayfield.

6. QB Aaron Rodgers, Green Bay Packers

AP Photo/Doug Murray

Green Bay Packers quarterback Aaron Rodgers

2023 Dead Cap Hit: $40.3 million

The Green Bay Packers made a franchise-altering pivot from Aaron Rodgers to Jordan Love, trading the former to the New York Jets. The Packers made the move in April of 2023, so they couldn't spread it across two years as a post-June 1 trade. Green Bay saved about $10 million in the trade, though.

The Packers and Jets swapped first-round picks. In addition, New York received a 2023 fifth-rounder, while Green Bay acquired a 2023 second-rounder, 2023 sixth-rounder, and a (conditional) 2024 second-rounder.

The Packers' limited salary cap resources hindered their ability to plug roster holes after the first month of free agency, but they didn't need notable signings to remain competitive. Love showed promise in his first year as a starter and led them to the playoffs.

Despite Rodgers' one-year dead cap charge, Green Bay didn't see a drop-off in 2023. 

5. QB Matt Ryan, Atlanta Falcons

AP Photo/John Bazemore

Atlanta Falcons quarterback Matt Ryan

2022 Dead Cap Hit: $40.5 million

Amid a perpetual cycle of mediocrity, the Atlanta Falcons traded Matt Ryan to the Indianapolis Colts for a 2022 third-round pick. They traded him in March, so the club took the full dead cap hit in 2022 and saved about $9 million in the deal.

In that offseason, the Falcons allowed starting linebacker Foyesade Oluokun, rotational receiver Russell Gage, and tight end Hayden Hurst to walk in free agency. They didn't have a solid in-house replacement for Ryan or the financial flexibility to take a big swing at a quarterback.

Atlanta's dead cap hit constrained its spending. Consequently, the team played with limited depth on the offensive side of the ball and lacked standout defenders. 

On a positive note, with Ryan's contract off the Falcons' books, the Falcons cleared extensive cap space beyond 2022, which allowed them to sign Kirk Cousins to a four-year, $180 million contract. Unfortunately for the Falcons, that move didn't work out in their favor.

4. QB Kyler Murray, Arizona Cardinals

AP Photo/Alex Gallardo

Arizona Cardinals quarterback Kyler Murray

2026 Dead Cap Hit: $54.7 million

Kyler Murray signed a five-year, $230 million deal following the 2021 season. Coming off back-to-back Pro Bowl campaigns, he seemed to solidify himself as the Arizona Cardinals' franchise quarterback.

However, Murray's injuries and the Cardinals' losing seasons changed the trajectory of his future. 

According to ESPN's Adam Schefter, the Cardinals informed Murray that they will release him at the start of the new league year. Assuming the club follows through with the move, it will trigger the third-biggest dead cap hit in NFL history.

Over the Cap's Jason Fitzgerald summarized the Cardinals' two options to take on the cap charge.

"They can release him outright at the start of the league year (they need to wait until the start of the year due to his guaranteed salary) and take the full charge this year. They would lose about $2 million in cap room in that scenario. The second option would be to declare him a post June 1 release. Under this scenario, they would take on $47.5 million in dead money this year and defer $7.2 million to 2027."

Arizona has $39.7 million in cap space, so the club can absorb a massive charge while it makes moderate changes to the roster under a new coaching staff this year. Still, the Cardinals grossly underachieved with Murray, the No. 1 pick from the 2019 draft, making just one playoff appearance, which ended in a loss.

3. QB Daniel Jones, New York Giants

AP Photo/Adam Hunger

New York Giants quarterback Daniel Jones

2024/2025 Dead Cap Hit: $69.3 million

In 2022, Daniel Jones led the New York Giants to the playoffs. He only threw for 3,205 yards, 15 touchdowns, and five interceptions, but Big Blue signed him to a four-year, $160 million deal, which proved to be a costly mistake.

Jones struggled through two more injury-riddled campaigns, throwing for 10 touchdowns and 13 interceptions in 16 games. Big Blue released him in November of 2024. The club took on $47.1 million in dead cap debt that year and $22.2 million in 2025, while saving $19.4 million.

Due to the timing of the release, the Giants went through only one offseason with Jones' cap charges, and they were fairly active in 2025 free agency, signing three players to multiyear deals that totaled more than $11 million annually.

New York didn't face limitations on acquisitions because of the massive cap debt, but in the year after it signed Jones, the team allowed key starters Saquon Barkley and Xavier McKinney to walk in free agency. General manager Joe Schoen has poorly utilized the team's financial resources.

2. QB Russell Wilson, Denver Broncos

AP Photo/Eric Gay

Denver Broncos quarterback Russell Wilson

2024/2025 Dead Cap Hit: $85 million

The Seattle Seahawks took a $26 million cap hit trading Russell Wilson, but the Denver Broncos incurred a much steeper debt when they released the 10-time Pro Bowler in March of 2024.

The Broncos didn't make an expected leap with lead skipper Sean Payton coaching Wilson in 2023. With him under center, Denver went 7-8 and missed the playoffs.

Even though Wilson posted decent passing numbers, throwing for 3,070 yards, 26 touchdowns, and eight interceptions with a 66.4 percent completion rate, his contract deterred suitors on the trade market. The Broncos made a clear break from him before 2024 free agency.

Considering the trade package to make the acquisition, coupled with the cap hit, the Broncos' deal for Wilson is arguably the worst trade of recent history, but they overcame it with playoff appearances over the last two years.

Denver proved that a team can still field a playoff-caliber squad with an absurd amount of cap space tied to a player who's no longer on the roster. 

 

1. Tua Tagovailoa, Miami Dolphins

AP Photo/Robert F. Bukaty

Miami Dolphins quarterback Tua Tagovailoa

2026/2027 Dead Cap Hit: $99.2 million

Hours before the start of 2026 free agency, the Miami Dolphins announced they will release Tua Tagovailoa at the start of the new league year on March 11. 

The Dolphins will eat a record $99.2 million in dead cap. Over the Cap's Jason Fitzgerald noted that the team can designate Tagovailoa as a post-June 1 cut and take on a larger charge this year than next.

Either way, it's a massive salary-cap hit for the Dolphins, who are in a full rebuild after releasing a slew of veterans, including Tyreek Hill and Bradley Chubb, under a new coaching staff.

In July of 2024, the Dolphins signed Tagovailoa to a four-year, $212.4 million extension after he led them to the playoffs in back-to-back seasons, but the 2023 Pro Bowler struggled to shake the injury bug as the team plateaued slightly under .500 over the last two years.

Miami will look for a new starting quarterback and cost-effective ways to work around a historic dead cap hit.

Team salary cap and player contract details are provided by Over the Cap.

Maurice Moton covers the NFL for Bleacher Report. You can follow him on Twitter @MoeMoton.