The Miami Dolphins and cornerback Jalen Ramsey have agreed to a multiyear extension that makes the veteran defender the NFL’s highest-paid cornerback annually, a league source said Friday.
The extension is for three years and is worth up to $72.3 million, including $55.3 million guaranteed, per the source. The contract’s $24.1 million annual value puts him just ahead of the $24 million per year Denver Broncos cornerback Patrick Surtain Jr. is set to earn in the deal he agreed to earlier this week.
Ramsey is entering his second season with the Dolphins after being traded to the franchise in 2023 from the Los Angeles Rams in exchange for a third-round pick and tight end Hunter Long.
Ramsey, who turns 30 in October, began his first season in Miami on injured reserve while recovering from meniscus surgery after suffering a non-contact injury during a training camp practice. However, he made a noticeable impact on the Dolphins’ defense during his debut in Week 8.
Ramsey finished last season with three interceptions and five passes defended. Miami ranked 27th in the NFL in opposing quarterback’s passer rating (100.2) before Week 8 and 15th after allowing a passer rating of 87.7 with Ramsey in the lineup, according to Trumedia.
Why the deal makes sense for both sides
Ramsey has once again set the market for cornerback contracts. He broke the $20 million barrier in average annual value in 2020 and reclaimed the positional crown with his latest extension.
He had previously been tied to the Dolphins through 2025, but the organization recognized an opportunity to secure a defensive star while the cornerback market continues to rise around the league. About 76 percent of Ramsey’s contract is guaranteed, which also falls in line with the top of the market.
Ramsey still ranked fifth in annual money under the previous terms, so that contract held up well for four years. But with Surtain and the Atlanta Falcons’ A.J. Terrell (four-year, $81 million extension) signing bigger deals this year, this looks like the next position group to take off.
If Miami waited for Ramsey to enter his contract year, the market would likely look significantly different, perhaps giving him a chance to aim for something closer to $30 million annually if he has a strong season.
So why now for Ramsey, rather than pushing the envelope for every possible dollar? Age is surely a factor, and a meniscus surgery cut into his 2023 season. Another injury like that could wipe out any ideas of a market-setting deal.
Now, he can claim to have signed two record deals during the prime of his career. — Jeff Howe, NFL national insider
