MARCH 13: Like Russell Wilson in 2024 and Kyler Murray on Thursday, Tagovailoa agreed to a veteran-minimum contract following a high-profile release. The former Dolphins starter, who will compete with Penix for the Falcons’ QB1 gig, will do so for barely $1MM, CBS Sports’ Jonathan Jones confirms. This will cut into Miami’s historic dead money bill, but not by much.
Exercising Tagovailoa’s 2026 option bonus before his release (per the Miami Herald’s Barry Jackson), the Dolphins will be tied to a $55.4MM dead money hit this year. That breaks Wilson’s single-season record ($53MM). Tagovailoa will count $43.8MM against Miami’s 2027 cap.
MARCH 9: The Dolphins are planning to release Tua Tagovailoa, and just a few hours later, he has found a new team. The 28-year-old quarterback will be moving one state north to join the Falcons, according to ESPN’s Adam Schefter.
As expected, Tagovailoa will receive a one-year, veteran-minimum deal in Atlanta, per CBS Sports’ Jonathan Jones, as Miami is still paying him $54MM this season. He will join fellow lefty Michael Penix Jr. in a Falcons quarterback room that will likely soon lose Kirk Cousins.
In fact, Tagovailoa projects as the team’s bridge starter as Penix works his way back from knee surgery, filling a role that could have kept Cousins in Atlanta. Instead, the veteran should now get the opportunity to pick a new team that he did not receive last offseason.
Considering Tagovailoa’s drastic fall since his 2023 Pro Bowl nod, Atlanta is a fine landing spot for the former first-round pick. The Falcons have been non-committal on Penix’s status as their franchise QB, and his injury will give Tagovailoa an opportunity to rebuild his stock surrounded by a strong supporting cast.
The Falcons have a solid offensive line and exciting young skill position players like Drake London, Bijan Robinson, and Kyle Pitts. But Tagovailoa’s struggles over the past two seasons will still give him an uphill battle in convincing Atlanta’s new leadership that he, not Penix, is the quarterback to steward the team’s offense into the future.
Finding no trade takers, the Dolphins will designate Tagovailoa as a post-June 1 cut Wednesday. That comes as little surprise, as it will allow Miami to spread out the record-breaking $99.2MM dead money charge in this case over two years. Thanks to Tagovailoa’s guarantees on his contract, he could account for $67MM a dead cap charges in 2026 as the Dolphins move forward with their full-scale roster reset.
Benched before Week 16 last season, Tagovailoa would welcome a fresh start. His four-year, $212.4MM extension — which included a $54MM 2026 option bonus that shifted from an injury guarantee to a full guarantee in March 2025 — backfired quickly. Still, Tagovailoa played well for much of the 2022 and ’23 campaigns.
Tua, 28 in May, led the league in yards per attempt and passer rating in 2022, passing yards in 2023 and completion percentage in 2024. Concussion concerns resurfaced in 2024, and Tagovailoa missed six games that year. His 2025 season continued a downward trajectory. But at the veteran minimum, the Falcons will take a flier.
If Tagovailoa were to make that a serious consideration later this year, it would create a fascinating dynamic in Atlanta. The Falcons surprised many by selecting Penix with the No. 8 pick in the 2024 draft weeks after signing Cousins to a four-year, $160MM deal with $90MM guaranteed. Cousins started the regular season strong, but struggled with turnovers down the stretch and was replaced by Penix. He went into 2025 as the unquestioned starter with Cousins trying to force his way out of Atlanta. But Penix did not inspire much confidence himself before partially tearing his ACL, leaving the Falcons in a tricky spot this offseason.
Normally, a quarterback’s third season (second as a starter) is a good litmus test for their long-term capabilities. But Penix will not get that type of opportunity, as he is expected to miss offseason practices as the team transitions to Kevin Stefanski‘s coaching staff. Instead, Tagovailoa will have the first opportunity to impress the new regime on the field.
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