Dolphins' Record $175M in Dead Salary Cap Hits Headlined by Tua, Tyreek, Ramsey After Waddle Trade

The Miami Dolphins' dead salary cap money for the 2026 season has now risen to over $175 million after the team traded wide receiver Jayden Waddle to the Denver Broncos on Tuesday, per ESPN's Adam Schefter.

The NFL's salary cap is $301.2 million for the 2026 season, so more than half of the Dolphins' cap for next year will be allocated toward players no longer on the roster.

The Dolphins are under new management after mutually parting ways with general manager Chris Grier last October and eventually hiring Green Bay Packers vice president of player personnel Jon-Eric Sullivan to be their new GM in January.

Miami replaced head coach Mike McDaniel with Packers defensive coordinator Jeff Hafley, and former QB1 Tua Tagovailoa was let go as well in favor of ex-Packers QB Malik Willis.

So there are plenty of changes in town as the Dolphins look to move past a tough two-year stretch that's seen the team miss the playoffs twice and go 17-19 over 2024 and 2025.

The present might be tough as the Dolphins begin a full-scale rebuild under Sullivan. However, Miami's future cap health looks excellent and sets the team up for a turnaround down the road. Per Over the Cap, the Dolphins have the third-most 2027 cap space in the league at $156.2 million.

The Dolphins certainly have leftover talent for 2026, chief among them star running back De'Von Achane. However, Achane is entering the final year of his rookie deal, and it wouldn't be a shock to see him go too. Omar Kelly of the Miami Herald provided some insight.

In the meantime, the Dolphins continue their rebuild with sights set on April's NFL draft as well. After the Waddle trade, Miami holds three of the top 43 picks in the draft at No. 11, No. 30 and No. 43 overall.