As the NFL’s mid-February franchise tag window opens, most general managers are frantically crunching numbers to keep their stars. That isn't the case for the Miami Dolphins.
New GM Jon-Eric Sullivan and head coach Jeff Hafley are likely treating the March 3 deadline like a telemarketer’s call: they’re simply letting it go to voicemail. Because for Miami, the "Tag or Trade" dilemma for the Dolphins isn't about which star to keep -- it's about why they are choosing to keep none of them.
The Miami Dolphins have no reason to use the Franchise Tag this offseason
The Math of a Master Reset
The Dolphins entered the 2026 offseason in salary cap purgatory, facing a deficit of nearly $30M just to get back to net neutral. When you combine that with the organizational decision to move on from the Tua Tagovailoa era, the idea of applying a franchise tag -- which would cost between $21M for a corner like Kader Kohou and $28M for a wide receiver -- is effectively a non-starter.
Applying a tag requires immediate cap space, and Miami is currently barely in the black after moving from several bloated veteran contracts. With the team officially entering a rebuild under Hafley, the priority isn't high-priced retention; it's financial flexibility.
The second reason Miami will likely remain spectators during the window is the roster itself. The 2026 free-agent class for the Dolphins is a sea of one-year prove-it deals and depth pieces. Players like Rasul Douglas, Larry Borom, and Ashtyn Davis have been solid contributors, but none command the top-of-market valuation that a franchise tag represents. And it's not close.
In a season where the Dolphins are expected to be tepid in free agency and aggressive in the draft, paying a premium for a single year of any pending free agent would also contradict the new regime's philosophy of building through youth.
The Verdict
The Dolphins aren’t in a tag or trade dilemma -- they are in a 'cut and collect' phase. By skipping the tag, Miami could avoid further clogging its cap and ensure it can be a bargain hunter in the second wave of free agency. The only tag the Dolphins should be interested in this February is the price tag they can remove from their books by moving on from the past...