What are financial implications of Dolphins’ trade for Isaiah Wilson?
The week before free agency brought a fresh surprise for the Miami Dolphins — an unexpected trade was reported that will bring the No. 29 pick in the 2020 NFL Draft, offensive tackle Isaiah Wilson, to South Florida. This isn’t the first time the Dolphins have rolled the dice on a “one and done” 1st-round NFL Draft selection under the direction of Chris Grier and Brian Flores, either. Remember, the Dolphins took a shot on quarterback Josh Rosen at the start of the team’s rebuilding effort in hopes of striking gold with the former No. 10 overall pick.
That gamble did not work out in the Dolphins’ favor. Miami traded back in the 2nd-round of the 2019 NFL Draft and later shipped a late 2nd-rounder for Rosen, who lasted just one year with the team before being cut ahead of the start of the 2020 season. Rosen is now on his fourth NFL franchise in three seasons after spending time on the Tampa Bay practice squad before a transition west to San Francisco.
Miami will hope this move comes with more success.
But the Dolphins will already have one advantage over their last gamble on a 1st-round flop: the financials. Because Miami’s acquisition of Wilson brings a very easy to swallow financial impact, one that guarantees Wilson will at least be on the roster through this season. Wilson’s time in Miami comes with the following scheduled salaries according to Spotrac:
2021: $1,135,836
2022: $1,661,672
2023: $2,187,508
Of those salary cap hits, Wilson’s 2021 & 2022 salaries are fully guaranteed. $1.09M of his 2023 salary is also guaranteed; meaning Miami is on the hook for a grand total of $5,384,606 in salary over the next three years (with just under $4M of that as guaranteed money. That’s certainly not minimum salary, but it is an easy number for Miami to chew on given the marginal dollar amounts and Wilson’s mammoth upside as a run blocker.
If the Dolphins were to cut ties with Wilson, they’d owe zero against the cap in dead money in any trade scenario. If the Dolphins cut Wilson ahead of the 2021 season, they’d owe the full $5,384,606 in dead cap. Alternatively, if Wilson flops in Miami and the Dolphins part ways next offseason, the team would be responsible for $2,755,426 — a marginal figure in the grand scheme of things.
So expect Isaiah Wilson to be on the Dolphins’ roster in 2021 no matter what — that’s a cost the team signed up for by opting to trade for Wilson instead of hoping to secure him on the waiver wire or via free agency if the Titans opted to cut him. And with the cost of such business being financing a 7th-round draft selection for 12 months and less than $1.2M for the year, the Dolphins seem to be playing a sound risk versus reward proposition.
