DAVIE, Fla. -- As a reward for his breakout season with the Miami Dolphins, receiver DeVante Parker is getting a long-term contract extension, with the 26-year-old getting a four-year deal that features an $8 million signing bonus.
The extension, which could pay Parker as much as $40 million, ensures that the Dolphins' 2015 first-round pick, who is 118 yards away from becoming the 10th Dolphins receiver in franchise history to produce a 1,000-yard season as a receiver, indicates that Miami views the former Louisville standout as a foundational piece for the rebuilding franchise.
"My desire was to have DeVante remain a member of the Dolphins family and we are excited for the future in Miami," said Jimmy Gould, Parker's agent, who got the fifth-year veteran to re-sign with the Dolphins last offseason when Miami wasn't willing to honor the fifth-year option on his rookie deal.
Last spring, Parker signed a two-year, $10 million deal with incentives, which was supposed to pay him $4.5 million in base salary and a workout bonus, and had another $500,000 in incentives. This new deal features $8 million in a signing bonus, $4.3 million in guaranteed base salary in 2020, and $7.7 million in guaranteed money in 2021. The fact it's coming at the end of this season means the cap hit won't drastically impact Miami's cap space in 2020, which is estimated to be $100-plus million.
The Dolphins have $20 million in cap space to rework deals before the season ends. But if that cap space is unused it carries over to 2021.
Parker, who leads Miami with 55 receptions for 882 yards and six touchdowns, becomes the fifth Dolphins player -- and the third receiver -- to have their contract extended since training camp began.
Jesse Davis, the Dolphins' starting right tackle, Eric Rowe, who has been used as a cornerback and safety, receiver and return specialist Jakeem Grant, and receiver Allen Hurns all received new contracts from the Dolphins in 2019.
Hurns, a University of Miami standout and South Florida native, received a two-year extension worth $7 million back in November.
Grant, who is on injured reserve because of a leg injury he suffered last month, signed a four-year extension worth $19.7 million before the regular season started.
Expect Parker, Hurns and Grant to remain key contributors to the Dolphins passing game, which should also get Preston Williams, the rookie receiver who suffered a season-ending knee injury on Nov. 3, back at some point in 2020. Williams, an undrafted rookie who caught 32 passes for 428 yards and three touchdowns in the eight games he played this season, is facing a 9 to 12-month rehab process.
The Dolphins also have receiver Isaiah Ford, who caught a career-high six receptions for 92 yards during last week's 22-21 loss to the New York Jets, and rookie Gary Jennings under contract for next season.
Albert Wilson, who has contributed 26 receptions for 154 yards and one touchdown, is also under contract in 2020, but he's slated to make $9.5 million and his entire salary comes off the books and becomes cap space if he's released. There's also a possibility Miami could structure Wilson's deal, making it more team-friendly.
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