Adam Schefter: Dolphins still determining 'fair market value' in Tua Tagovailoa contract talks

With the season quickly approaching, negotiations are still going on between Tua Tagovailoa and the Miami Dolphins. The former Alabama star made his desire for a new deal clear ahead of minicamp, but as the offseason program continued, no agreement came to fruition.

There are now even more questions about what Miami will offer after some big dominos fell. The biggest came in Jacksonville where Trevor Lawrence landed a new contract that ties him with Joe Burrow for the highest-paid quarterback in the league at $55 million annually.

According to ESPN’s Adam Schefter, Lawrence’s deal brought another consideration for the Dolphins. The goal is to pay Tagovailoa at market value. Well, he said, the franchise has to ask what that is.

“The Dolphins have been very clear, they want to pay Tua Tagovailoa,” Schefter said on “NFL Live” Wednesday. “The question is, what is fair market value? And that’s a moving bar because a couple of weeks ago, it would’ve been easy to argue, ‘Hey, we don’t know that he’s worth the money that the Bengals are paying Joe Burrow,’ which is $55 million a year on average. But then, Trevor Lawrence comes long and he gets $55 million a year on average. So when that happens, the market shifts.

“And so, the Dolphins and Tua Tagovailoa are left to figure out what is the proper value for a quarterback of his ability? Look, the Dolphins want to keep him. They’re expected to keep him. They’re gonna get him signed at some point. The question is, what is that number?”

More on Tua Tagovailoa’s contract situation

The Dolphins picked up Tagovailoa’s fifth-year option, valued at $23.2 million, according to Spotrac. That adds to the urgency to get an extension since he’ll be an unrestricted free agent after this season. It’s also worth noting he’s coming off a monster year in 2023.

Tagovailoa put together the biggest year of his career in Miami, throwing for 4,624 yards and 29 touchdowns to make his first career Pro Bowl. The Dolphins made a case as the NFL’s fastest team with Tyreek Hill and Jaylen Waddle at receiver along with Devon Achane and Raheem Mostert at running back, and Tagoaviloa ran the show at quarterback.

But with fellow 2020 draftees Burrow and Justin Herbert locked in to extensions, as well as Lawrence – the No. 1 pick in 2021 – Tagovailoa is looking to secure the same fate. He noted it’s “business,” though, and the chatter is sure to continue with training camp starting next month.