Miami Dolphins sign TE Greg Dulcich

Greg Dulcich's one-year, $3.25M extension with Miami earns a C+ Contract Value Index (CVI), a fair-value deal that reflects modest upside and substantial execution risk in a quarterback reclamation scenario. At the tight end position, Dulcich occupies a middling production tier — recent headlines frame him as a developmental prospect with breakout potential rather than an established pass-catcher, and the limited contract commitment suggests the Dolphins are treating this as a low-stakes audition rather than a core investment. The $3.25M AAV is comfortably below market for a starting tight end and aligns with depth-piece pricing, which makes financial sense given the team's current 7-10 record and playoff positioning — this is a low-cost gamble during a retooling window, not a win-now splash. The real value equation hinges entirely on execution: if Dulcich produces under a new regime with quarterback Malik Willis, Miami gains a productive asset on a bargain contract; if he does not, the minimal guaranteed money insulates the team from long-term regret. The C+ CVI reflects the balanced risk-reward profile — the price is right for a lottery ticket, but tight end depth moves rarely move the needle, and the one-year structure implies limited conviction on either side.