Miami Dolphins starting quarterback Tua Tagovailoa was present for the first day of organized team activities (OTAs) on Monday. There was a question about whether or not Tagovailoa would show up for the voluntary portion of OTAs after he recently skipped the first phase of voluntary workouts amid contract discussions. The Dolphins will soon make Tagovailoa one of the highest-paid quarterbacks in football.
Tagovailoa is currently slated to play out the 2024 campaign under the fifth-year option on his rookie deal. The Dolphins owe Tagovailoa a fully guaranteed sum of $23.2 million this season. It represents a significant underpay, and it’s tough to imagine Tagovailoa entering the upcoming campaign without long-term security.
Tagovailoa took a sizable step forward in 2023, his second season under the tutelage of brilliant offensive-minded head coach Mike McDaniel. Tagovailoa led the league in passing yards with 4,624. He also completed a career-high 69.3% of his passing attempts and threw for a personal-best 29 touchdowns. He earned his first career Pro Bowl appearance as a result. Tagovailoa also stayed healthy, playing a complete slate (17 games) for the first time in his four-year career.
The Dolphins captured 11 victories, their most since 2008, but did lose their final two contests and settled for a wild-card berth. They were defeated 26-7 by the Kansas City Chiefs in their first playoff contest.
Tagovailoa has established himself as Miami’s franchise signal-caller at an opportune time. Quarterback contracts continue to balloon in total value. Detroit Lions quarterback Jared Goff signed a four-year contract extension worth $212 million just last week. Goff became the second-highest-paid quarterback in the league on an annual basis. He’ll earn $53 million per year in Detroit.
Goff’s contract serves as an example for Tagovailoa’s negotiations. Elsewhere, Justin Herbert, Joe Burrow, Jalen Hurts, and Lamar Jackson all signed extensions that carried a total value of $255 and $275 million. All of those were five-year agreements.
With one year remaining on his contract, Tagovailoa could sign a four-year extension worth $218 million that surpasses $170 million in practical guarantees. Tagovailoa would remain under contract with the Dolphins through the 2028 campaign under such an agreement, his age-30 season. At expiration, Tagovailia could be slated to sign another lucrative extension.
Tagovailoa would earn $54.5 million per campaign via such a proposal. That would make Tagovailoa the second-highest-paid quarterback in the league annually, falling slightly short of Burrow and the extension he signed last September worth $55 million per year. It would be a fair outcome after the Lions gave Goff $53 million annually last week.
Tagovailoa has positioned himself to surpass Goff's contract from both a total value and annual perspective. Firstly, he wisely waited for Goff to sign his contract first, an outcome that directly impacted Tagovailoa's negotiation. Secondly, Tagovailoa out-produced Goff last season, throwing for more yards and a better completion percentage.
Tagovailoa has seemingly overcome the performance and injury-related issues that once threatened to derail his career. The Dolphins have built an elite roster around Tagovailoa that should make them postseason contenders for the foreseeable future. The Dolphins should feel comfortable making a long-term financial commitment to Tagovailoa after 2023 went so swimmingly. Expect Miami to sign Tagovailoa to an extension that approaches $55 million annually before training camp marks its arrival.
