What is Jonathan Taylor worth to the Dolphins?

The Indianapolis Colts are waiting for the two teams bidding on tailback Jonathan Taylor to sweeten their initial offers

The Indianapolis Colts are waiting for the two teams bidding on Jonathan Taylor to sweeten their offers, but seemingly have backed off the asking price for the 24-year-old tailback being a first-round pick, according to a source.

The Miami Dolphins, who have made a couple of offers including packages that feature draft picks and players, haven't presented anything to Colts General Manager Chris Ballard that's enticed him to greenlight a deal for the 2021 MVP candidate.

But the mystery team, which is working under the cloak of secrecy because it has an established tailback who potentially could be included in a trade for Taylor, also hasn't presented the Colts anything desirable either.

Unless a third team enters the bidding before Tuesday's self-imposed 4 p.m. deadline, its' possible that a second-round pick in 2024 would be the key asset — but not the only one — that gets a deal done for Taylor, who has averaged 5.1 yards per carry throughout his NFL career.

Is Tuesday's deadline for Taylor real?

Tuesday's deadline is important because Taylor is on the Colts' Physically Unable to Perform List, and Indianapolis must either move the former Wisconsin standout in a trade, activate him and place him on the 53-man roster, or keep him on the PUP list, which would make him ineligible to play for the first four games of the season.

If that happens, it's likely that the Colts lose some leverage in the trade.

The Dolphins have been adamant about not getting involved in a bidding war, and seem prepared to move on with Raheem Mostert and Jeff Wilson Jr. as the lead backs for 2023.

Mostert and Wilson collectively accounted for 1,751 rushing yards and scored 11 touchdowns last year. Miami also added De’Von Achane, a speedster from Texas A&M the Dolphins used a third-round pick to select in the 2023 NFL draft.

Miami is interested in getting a deal done for Taylor, whose relationship has soured with the Colts because of the franchise's unwillingness to offer a multi-year extension this offseason. Head coach Mike McDaniel is committed to becoming a more balanced team, and juicing up the run game seems to be his top priority.

Adding an elite back will certainly help that process.

The Dolphins seemingly are willing to compensate Taylor with a multi-year deal that will make him one of the NFL’s highest-paid tailbacks.

Taylor is making $4.3 million in the final season of his rookie deal and is seeking a multi-year deal that pays him north of $12 million a season from whatever franchise acquires him.

A contract doesn't need to be hammered out before a trade is finalized, but the framework of a deal likely needs to be agreed upon.

Taylor rushed for 861 yards and scored four touchdowns in the 11 games he played in an injury-shortened 2022 season. 

The team that acquires Taylor will then have to make sure he's healthy, and that the back issue that has him placed on PUP has more to do with his contractual hold-in than an actual injury.

And if that checks out, then coming to terms on a multi-year extension, a deal that possibly adds three years to his existing contract, locking him up through 2026, and guaranteeing the former Wisconsin standout $25-30 million, would be the next priority.

How much are the top tailbacks making?

San Francisco’s Christian McCaffrey, from whom the 49ers traded at midseason last year and rode all the way to the NFC Championship Game, will have the highest take-home salary in 2023 for all tailbacks.

McCaffrey will make $12 million this season after restructuring his contract to help the 49ers create cap space this offseason. McCaffrey pushed $10.72 million to a roster bonus and will make $1.1 million as a base salary this season.

For comparison's sake, he’ll also be slated to make $12 million a year in 2024 and 2025, but all those are option years, which means none of it is guaranteed. But the 49ers would have to release him to avoid paying that $12 million a season price tag.

New Orleans’ Alvin Kamara will be the second-highest-paid tailback in the NFL this season, earning $11 million in 2023. And that’s after doing a similar restructured deal to help the Saints create cap space.

Kamara is slotted to make $11.8 million next season and his release creates an identical amount of cap space for the Saints, who are projected to be $61 million over the projected salary cap in 2024.

Josh Jacobs, the NFL’s rushing leader from the 2022 season, signed a one-year deal worth up to $12 million last week after refusing to sign his franchise tag. Saquon Barkley signed a similar deal with the New York Giants after having the franchise tag placed on him. But that deal maxes out at $11 million this season.

Tennessee’s Derrick Henry could make $11 million this season if he reached all his incentives. But $10.5 million is his base salary, and this will likely be his final season with the Titans, who reportedly shopped him all offseason.

This is the last year of Henry's deal with the Titans because the remaining two seasons are voidable.

Cleveland’s Nick Chubb will earn $10.85 million in 2023, and Green Bay potentially  will pay Aaron Jones $10.06 million after he reworked his initial four-year, $48 million deal to shorten it into a two-year deal that is potentially worth $23 million.

Taylor's priority seems to be to help his position raise the bar when it comes to their de-escalating salaries.