Miami Dolphins sign WR Jalen Tolbert

Jalen Tolbert earns a B– Contract Value Index (CVI) on this one-year, $1.4M signing with Miami, a deal that slots him squarely into the replacement-level receiver tier while offering the Dolphins minimal financial risk in a preseason window where roster depth is still being finalized. At $1.4M AAV on a prove-it deal, Tolbert is being asked to earn his roster spot rather than being handed a role, which reflects the Dolphins' realistic assessment of his standing in the wide receiver market—not a developmental prospect commanding future capital, but a veteran depth piece with limited guaranteed money. The contract structure is sensible for Miami: it's a low-commitment, high-optionality move that doesn't strain cap flexibility or block investment in higher-tier pass catchers, and the one-year window gives both sides clarity without long-term entanglement. The risk here is that Tolbert hasn't demonstrated reliable production at the NFL level to justify starting reps, so Miami is banking on either scheme fit or training-camp performance to justify the roster spot; conversely, the upside is capped—this is roster insurance, not the foundation of a receiving corps. Given the Dolphins' 7–10 finish and current AFC East positioning, adding veteran depth on back-end deals is pragmatic, but it won't move the needle on playoff probability without complementary moves elsewhere on the roster. This is the kind of low-risk, low-reward transaction that defines smart offseason housekeeping in the preseason phase.