Miami was able to land one of the biggest names on the free agent market, at a position of critical need.
They are expected to finish signing LB Karlos Dansby to a five year deal worth roughly $43 million by tomorrow. The deal will likely include $22 million in guaranteed money. That may be a lot of money, but it's a fair market deal. I don't think the team is really overpaying him, especially since this year is uncapped so it really doesn't matter how much he's paid this season.
The Dolphins were also able to re-sign Chad Pennington on a one year, $2.5 million deal. He will get an additional $1.515 million if he's traded.
To clear room for Dansby and Pennington and their contracts, the team cut LB Joey Porter, S Gibril Wilson, and LB Akin Ayodele.
Dansby should slide right into Channing Crowder's role on the defense, while Crowder should assume Ayodele's duties.
Miami is now going to have to find some way to trade Tyler Thigpen because the team can't keep four QBs on the roster. It was idiotic to give away a fifth round pick for him last season and re-signing Pennington is just further proof of that. Hopefully the team can at least recoup some of its losses in this one.