The Miami Dolphins entered the 2022 offseason with the most cap space in the league with over $63 million to spend, according to Over the Cap. They’re able to use this money to re-sign/extend their own players, sign new ones, and pay their draft picks.
Now, after the Dolphins used the franchise tag on tight end Mike Gesicki Tuesday morning, where do they sit?
At this point, Gesicki’s franchise tag as a tight end is worth $10.93 million guaranteed this season, so that all counts against the cap. This leaves the Dolphins with $52.94 million, the third-most in the league behind the Los Angeles Chargers and Jacksonville Jaguars.
Gesicki’s cap hit could change this offseason if he fights to be viewed as a wide receiver, and he has a case based on the number of reps he saw out wide. If the 26-year-old were to win that argument, his cap hit would increase to $18.42 million in 2022, leaving them with just $44.91 million.
However, there’s still a chance that Miami works out a long-term deal with the tight end or trades him to at least get something for losing him.
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