The Dolphins can save over $40 million in cap space with 5 extensions

Phillips stands out as an obvious candidate for an extension. Chubb’s situation is a little trickier.

Like Phillips, Chubb suffered a serious, season-ending injury in 2023. Unlike his teammate, Chubb didn’t make a timely return in 2024. The former Pro Bowl pass rusher nearly saw the field in the final weeks of the year, but the Dolphins decided his time to make a comeback ran out.

Now Chubb is set to count $28.66 million against Miami’s salary cap in 2025, second most on the team behind only Tua Tagovailoa.

Cutting Chubb with a post-June 1 designation, or trading him after the start of June would yield $19.55 million in savings. But if the Dolphins want to keep the 28-year-old pass rusher, an extension could lower his cap hit by as much as $14.6 million. At the very least, a restructure could earn Miami as much as $13.7 million in savings.