With free agency over with and Miami standing about $12.8 million under the salary cap, they have the ability to start looking forward to next offseason by extending the contracts of players they want to keep around.
And that they did with CB Will Allen, signing him to a two-year contract extension. His contract was set to expire after this coming season.
He is now under contract with the Dolphins for the next three seasons, and he will earn $16.2 million over that time, with $10 million of that guaranteed over the next two seasons. Allen was originally scheduled to make $4 million this year, so this new contract represents $12 million of new money.
Allen is one of the best cornerbacks in the league, and although he is starting to get old, when you consider that other top flight CBs have recently signed deals worth $10+ million per year, Allen's $5.4 million yearly average seems like a bargain.