The Miami Dolphins have been releasing several players, but if they want to save some money they can. Mike Wallace probably will not take a pay cut, and let’s be honest with the emergence of Jarvis Landry, Wallace is not needed in Miami. The Dolphins can likely find a couple player via free agency right now that are better and more productive than Wallace.
If the Phins cut Wallace they would save 2.5 million dollars, and although they would have a dead cap hit of 9 million, but if they were to trade Wallace the team would save 5.5 million. That would be the best move but it may be hard to find a suitor.
The Dolphins can also save more than $8 million by cutting Dannell Ellerbe, who missed 15 games following hip surgery last season. Leading tackler Jelani Jenkins turned out to be an upgrade as his replacement. Finnegan, 31, is a declining player due a non guaranteed $5.48 million.
If the Phins are able to trade Wallace and cut the Ellerbe and Finnegan they would save 18 plus million dollars. That is a lot of money for Free Agency, and the Phins would be able to sign some pretty solid talent.