5 highest-paid Miami Dolphins players in the 2024 season

The Miami Dolphins spent a lot of money this offseason. After all the new contracts, extensions, and restructures, it is easy to lose focus on who is getting paid the most.

Miami felt it was important to extend Jaylen Waddle this year. The team also extended quarterback Tua Tagovailoa and gave Tyreek Hill more money. Earlier in the offseason, they restructured Terron Armstead's deal.

Who are the five players that account for most of the Dolphins' salary cap? With the help of Over The Cap, let's take a deeper look at the makeup of the upper echelon of the Dolphins' pay scale.

Highest-paid players on the Dolphins' salary cap in 2024

5. Jaylen Waddle, WR

2024 cap hit: $9.01 million

The Dolphins probably could have extended Waddle for cheaper than they ended up paying, but the speedy wideout remains in Miami nonetheless. His extension comes off his rookie contract and makes him the fifth highest-paid player on the roster.

• 2024: $1.05 million guaranteed, $9.01 million cap hit
• 2025: $16 million guaranteed, $8.02 million cap hit
• 2026: No guarantees, $11.66 million cap hit

4. Tua Tagovailoa, QB

2024 cap hit: $9.5 million

Miami extended their young quarterback a couple of days after training camp started. Tua Tagovailoa's new contract will not make him the highest-paid player on the team this year, but that changes in subsequent seasons if things remain as they are currently with the roster. Tua's contract this year remains low.

• 2024: $1.1 million guaranteed, $9.53 million cap hit
• 2025: $50 million guaranteed, $39.45 million cap hit
• 2026: $39 million guaranteed, $56.4 million cap hit

3. Terron Armstead, T

2024 cap hit: $10.56 million

Terron Armstead restructured his contract after flirting with retirement this past offseason, and the Dolphins drafted his replacement. The writing is on the wall for Armstead and the Dolphins, and this year seems to be his final season. Armstead, should he stay, is under contract until 2027.

In 2025, a pre-June 1st release would carry an $18.5 million dead cap hit, while a post-June 1st release would only carry a $7.8 million hit, pushing the remaining money into 2026.

• 2024: $1.2 million guaranteed, $10.56 million cap hit
• 2025: No guarantees, $22.15 million cap hit

2. Bradley Chubb, Edge

2024 cap hit: $15.86 million

The Dolphins are spending a lot of money and cap space on a player who isn't expected back until mid-season. This is one of the downsides of giving out big contracts. Chubb will continue his rehab, hoping to join Miami sooner than mid-year. Technically, Chubb is under contract through the 2028 season, but his contract numbers are high.

In 2025, Miami could save $20.23 million by releasing Chubb with a post-June 1 designation.

• 2024: $6 million guaranteed, $15.86 million cap hit
• 2025: No guaranteed money, $29.34 million cap hit

1. Tyreek Hill, WR

2024 cap hit: $19.25 million

It shouldn't be a surprise that Hill is at the top. The Tua contract won't kick in until next season, so Hill is naturally the highest-paid player in 2024. Hill will remain one of the top-paid players on the Dolphins through the next several seasons. His contract looks like this:

• 2024: $19.25 million guaranteed, $31.98 million cap hit
• 2025: $27.65 million guaranteed, $27.7 million cap hit
• 2026: No guaranteed money, $51.9 million cap hit

In 2026, the Dolphins could save $36.3 million by releasing Hill before June 1 and $39.17 million if they do it after that date.