MIAMI — As Tua Tagovailoa deals with his fourth concussion of his life and at least his third as a Dolphin, his long-term health remains the over-riding concern.

Whatever happens from here, there will be financial consequences for Tagovailoa and the Dolphins. Two big takeaways involving the financial part of the story:

1). Tagovailoa would be potentially be giving up at least $124 million by retiring. So that’s difficult to envision unless his symptoms surprisingly don’t disappear over a long period. And even then, the financially prudent decision would be to continue collecting his money until doctors clear him. (An independent neurologist and a team doctor must agree that Tagovailoa is ready for full practices and contact before he can enter the final phases of concussion protocol.)

2). The Dolphins releasing him next offseason is unrealistic financially even if he misses substantial time this season.

Among the financial details that have come to light in the wake of Tagovailoa’s concussion Thursday:

— According to overthecap.com’s Jason Fitzgerald, insurance covers $49.3 million of the $167.1 million guaranteed for injury in Tagovailoa’s contract.

— Per spotrac.com’s Michael Ginnitti, $43 million of the $167 million that’s guaranteed for injury already has been paid to Tagovailoa.

Ginnitti said if Tagovialoa is “medically cleared to return to football, but opts to retire, he will forego the remaining $124M guaranteed (barring a custom settlement). If he’s medically forced into retirement, he has a right to collect the $124M remaining.”

Based on past Miami Herald interviews with medical experts regarding Tagovailoa and what would happen if he gets another concussion, it’s unlikely that Tagovailoa would be forced to medically retire or need to retire unless his concussion symptoms don’t go away. (The Dolphins have not said if Tagovailoa is experiencing any symptoms but have said he’s alert and communicative with teammates.)

David Chao, the former Chargers team physician, told Outkick’s Armando Salguero that “if his symptoms clear quickly, it won’t mean he’s at the end of his career when he doesn’t have a choice. If the symptoms are prolonged, then yes, this is likely going to end his career.”

— As Ginnitti noted, if Tagovailoa passes a physical in March — and the Dolphins nevertheless released him (an unlikely scenario) — they would be “on the hook” for only the $50 million he’s due in 2025.

His $54 million salary for 2026 would become guaranteed March 14, 2025, and the Dolphins could move to release him before that date, and avoid that 2026 salary, if he passes a physical next March. So if Tagovailoa passes a physical, it’s unlikely he would be released.

Tagovailoa’s $31 million salary in 2027 and $41.4 million salary in 2028 are not guaranteed.

— If the Dolphins released Tagovailoa without a post-June 1 designation next offseason, Miami would have a dead cap hit of $132.2 million that could be spread across 2025 and 2026.

If Tagovailoa were to be released with a post-June 1 designation, the Dolphins would have a dead cap hit of $83.6 million that could be taken in 2025 or spread across 2025 and 2026.

That was the risk of signing Tagavailoa to the four-year, $212 million extension when the Dolphins merely could have gone year to year with him through 2026, albeit with larger cap hits than the ones in the early years of his new contract.

The Dolphins have only $4 million in 2025 cap space at the moment. Sustaining an enormous cap hit for releasing Tagovailoa — and then having the money to sign a replacement other than a rookie or cheap journeyman — isn’t realistic.

— Tagovailoa’s cap hit is $9.5 million this season and $39.4 million if he’s on the team next year.

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