The impact of Terron Armstead’s retirement on the Miami Dolphins’ salary cap in 2024.
The Miami Dolphins are poised for a challenging offseason as they navigate the task of adhering to the 2024 NFL salary cap. Projections from OverTheCap.com suggest that the Dolphins could find themselves approximately $40-45 million over the cap when the new league year commences in March. When factoring in draft picks and other obligations, this figure increases to around $55 million over the cap. Complicating matters further, there is the potential for a substantial acceleration of money from future years into the upcoming season’s cap issues.
Left tackle Terron Armstead, a Pro Bowl player for the Dolphins, recently hinted at the possibility of retirement. While he expressed his enduring love for the game, Armstead acknowledged the need to take time to process the end of the season and make decisions about his future. With Armstead approaching the age of 33 as training camp begins, and considering his history of battling injuries throughout his 11-year career, the question arises whether his body will permit him to continue playing for a 12th season.
Should Armstead decide to retire, the Dolphins would face a significant challenge as they lack a clear successor for the left tackle position. This void in the roster could prompt the team to consider options such as adding a veteran in free agency or selecting a rookie early in the 2024 NFL Draft. However, a potential larger issue looms if Armstead opts for retirement, as it would exacerbate Miami’s existing cap problems.
Armstead inked a five-year, $75 million contract with the Dolphins in 2022, featuring a $12 million signing bonus and $43.4 million in guaranteed money. In March, he and the Dolphins agreed to a restructured contract, converting some of the roster bonuses and base salary into an increased signing bonus. With $5 million of his $13.25 million 2024 salary fully guaranteed, Armstead’s cap hit for the year is estimated at $20.8 million, assuming he remains on the roster.
However, should Armstead still be on the roster on March 16, marking the third day of the 2024 league year, his entire $13.25 million salary becomes guaranteed, compounding the Dolphins’ cap challenges.
