Miami Dolphins hope to retain DE Olivier Vernon

INDIANAPOLIS -- Flexibility is the buzzword around the Miami Dolphins nowadays with Mike Tannenbaum, the executive vice president of football operations maintaining his team isn't sure what's going to happen between now and the draft, especially when it comes to free agency.

One of the main free agency concerns is defensive end Olivier Vernon, who had a team-best 7.5 sacks last season. Because of the market, Vernon could be set to receive a contract in the neighborhood of five years, $50 million with $25 million guaranteed. Tannenbaum said Miami would like to keep Vernon, but he didn't mention the team's financial ceiling.

"We're on the precipice of free agency and we'll see what happens," he said. "He's earned the right to be a free agent and he has options, we have options. We're going to keep assessing those."

The Dolphins could be in big trouble at defensive end because Vernon could depart, Cam Wake, who is recovering from an Achilles injury, could be slowed, and reserve defensive end Derrick Shelby is also eligible for free agency.

"I thought Derrick played really well this year," Tannenbaum said. "He's one of those players you really want to celebrate. Under the radar, self-made player. One of the toughest players in our locker room. Football is really important to him.

"He played hurt, played the whole year. We'll see how it goes. I'm really proud of what Derrick has done. He's another free agent that deserves a chance to go to the market. We'll see how it plays out."

Miami could be in a position where it must choose between Wake, who is due $8.4 million, and Vernon. It's doubtful both would return with top-tier salaries.

"We'll see," Tannenbaum said. "Those are all part of the variables. They are somewhat dependent on each other, but they're also their own narrative. They're both good players, good people in our locker room and both really good players. We'll see how it goes. We have a few more days to finalize some decisions."

Among those decisions is whether to put the franchise tag on Vernon. Such a designation would likely fetch Vernon a salary between $14-$15 million.

"We have options, and so does he," Tannenbaum said. "We haven't made any decisions. We have a deadline coming up in another handful of days. We haven't made any decisions. We're just looking at options."

--Running back Lamar Miller is eligible for free agency and Tannenbaum is unclear what will happen. Miller has rushed for 1,971 yards in the last two years.

"I'm an optimistic person by nature," Tannenbaum said. "We'll see what happens. We've done a lot of deals with his agent over the years. Lamar is another homegrown talent. A great guy off the field. We'll see what happens."

If Miller departs, the Dolphins would be left with Jay Ajayi, the 2015 fifth-round pick from Boise State, and would likely either draft a running back or sign someone during free agency.

--Miami has four key veterans - defensive tackle Ndamukong Suh ($28.6 million), cornerback Brent Grimes ($8 million), tight end Jordan Cameron ($7.5 million) and Cam Wake ($8.2 million) - whose salaries it would like to reduce.

The priority is Suh.

"We've talked to Ndamukong and his agents, and we're really glad he's here," said Tannenbaum. "We'll continue to talk to his guys, but there's really nothing to comment on specifically yet."

There's been no indication Grimes is willing to take a pay cut and he could have leverage. Miami already needs two cornerbacks (boundary and slot) and if they cut Grimes they'll need three cornerbacks.

Wake, who is coming off a season-ending Achilles injury, would likely be open to restructuring his deal, but there's no word on whether he would be willing to restructure.