Dolphins spending over 50% of $301.2M cap space on players no longer on roster

Since Jon-Eric Sullivan took over as the Miami Dolphins' general manager, the team has made some major decisions with the roster to clear the way for a full-scale reset.

After a string of cuts, trades, and roster shuffling, the Dolphins have parted ways with a ton of their top players, including, most recently, according to ESPN's Adam Schefter, Jaylen Waddle, in a blockbuster trade with the Denver Broncos.

But, following all of those departures and trades, the Dolphins, according to Ari Meirov of The 33rd Team, have more than 50% of their $301.2 million cap space allocated to players no longer on their roster.

Dolphins spending more than 50% of cap space on players off the roster

"The Dolphins will have over $165M in dead money on their 2026 salary cap this upcoming season," Meirov shared. "More than $165M of a $301.2M cap will be devoted to players no longer on the team."

Coming into this offseason, big changes were expected for the Dolphins. And a lot of these releases were expected. But that doesn't change how things look for Miami entering the 2026 NFL season.

Tua Tagovailoa, Waddle, Bradley Chubb, Tyreek Hill, Jalen Ramsey, Minkah Fitzpatrick, Terron Armstead, James Daniels, Jonnu Smith, and many others are counting against the Dolphins' cap space that are no longer on the team.

More: Dolphins agree to $67.5 million deal with Malik Willis

Sullivan is having the Dolphins eat a ton of dead money this offseason in a full-scale reset to build for the future instead of trying to win in 2026.

But that doesn't mean they aren't going to make a few moves. Malik Willis signing for $67.5 million is even more interesting after this blockbuster Waddle trade, as the Dolphins spent a lot on a QB in free agency, but are gutting the roster around him.

This is an interesting rebuild strategy for the Dolphins. With over 50% of the team's cap space allocated to players off the roster, the Dolphins are heading into 2026 with a severely depleted team.

But the Dolphins aren't planning for 2026; they're planning for the future. A rebuild doesn't happen in one offseason, and this will be one of the more interesting rebuilds to keep a close eye on moving forward.

More Dolphins news:

• De'Von Achane expected to have extension talks with Dolphins
• Tua Tagovailoa is big winner of free agency after joining Falcons
• Tua Tagovailoa quickly picked Falcons after release from Dolphins
• Dolphins trade Minkah Fitzpatrick to Jets for late round pick
• Tua Tagovailoa will have $60+ million cap hit for Dolphins in 2026