A number of quarterback dominoes have yet to fall this offseason, and the situation regarding Tua Tagovailoa and the Dolphins remains unsettled. A lucrative investment in the Pro Bowl passer could still very well be worked out relatively soon, however. 
Contract talks have been ongoing throughout the spring, and developments on the QB front have helped Tagovailoa’s bargaining position. The Lions gave Jared Goff a third contract carrying an annual average value of $53MM before Trevor Lawrence secured a Jaguars extension worth $55MM per year. Tagovailoa is younger than Goff while he has generally outproduced Lawrence when healthy.
Keeping that in mind, the 26-year-old has publicly stated how he is well aware of where the market currently is, suggesting a hometown discount should not be expected in his case. Tagovailoa is already thought to have turned down at least one extension offer, and while he has cited progress there is ground still to be made up. A report from last week indicated Miami has yet to submit a market-value offer.
Still, efforts from team and player continue on the negotiating front. Barry Jackson of the Miami Herald notes both parties “seem determined” to work out an extension agreement, adding a “decent chance” remains that one will be in place before the start of the 2024 season. Plenty of blockbuster extensions are not finalized until training camp, and this summer is likely to be no different with a number of potential holdouts looming and the likes of Dak Prescott and Jordan Love also positioned for big-money QB deals.
As things stand, Tagovailoa is set to play out his $23.17MM fifth-year option this season. The Alabama product put together a healthy campaign in 2023, leading the league in passing yards (4,624) while adding a career-high 29 touchdowns. Questions about his durability and ceiling as a passer could limit the team’s willingness to make a long-term investment, on the other hand, which could lead to a patient approach and a potential 2025 franchise tag coming into play.
Of course, the Dolphins also have the Tyreek Hill contract situation as a summer priority. The former receiver leader (in terms of annual average compensation) is seeking a raise, and accommodating that wish will alter Miami’s cap structure for 2024 and beyond. With respect to Tagovailoa, meanwhile, traction at the negotiating table will be worth watching closely for.