Since Tua Tagovailoa was drafted as the fifth pick in the 2020 NFL Draft, the Miami Dolphins have had a gleam of hope to contend in the stacked AFC. After going back and forth all offseason, the Dolphins finally locked the QB down to a long-term contract.
The Dolphins made Tua the fifth-highest-paid NFL quarterback, hoping he could bring a Super Bowl to Miami for the first time since 1974. Let’s examine Tagovailoa’s current contract, 2024 salary, net worth, and career earnings.
Tua Tagovailoa’s 2024 Contract Extension
Following Dak Prescott’s record-setting contract, Tagovailoa is the fifth highest-paid NFL quarterback based on average yearly salary after signing a four-year, $212.4 million contract extension this offseason. The gaggle of Joe Burrow, Trevor Lawrence, and Jordan Love all sit at $55 million a year, and Tua would’ve been just behind them, if not for Prescott setting the record at a whopping $60 million a year.
The extension includes $167 million in guarantees, making him Miami’s long-term option. However, while Tagovailoa sits at the top of the ranks in average salary per year, the same cannot be said about his guaranteed money, where he comes in eighth among signal-callers.
The #Dolphins and their QB Tua Tagovailoa have a deal!
Sources tell me and @MikeGarafolo they’ve agreed to terms on 4-year, $212.4M contract extension to lock him in long-term. At long-last, Miami’s franchise QB is paid like it. 💰 💰 💰 pic.twitter.com/rW5sTJzBQo
— Ian Rapoport (@RapSheet) July 26, 2024
Tagovailoa will now make a whopping $53.1 million annually, narrowly knocking Jared Goff’s $53 million annual contract out of the top five.
In 2024, Tagovailoa will collect $23.17 million, but that number will jump drastically over the deal’s remaining three years. Many analysts believe that the Dolphins overpaid for their star quarterback. However, it seems like the team and the player found a happy medium in the overall numbers.
In 2023, Tagovailoa finished the season first in passing yards with 4,679, tied for fifth in passing touchdowns with 29, and ninth in passing attempts with 561. After pairing the QB with head coach Mike McDaniel, a once struggling offense has turned into an explosive threat.
The duo helped lead the Dolphins to an 11-6 record, even though they ultimately fell short in their Super Bowl run after losing to the eventual champions, the Kansas City Chiefs, in the Wild Card round. However, a late slide toward the end of the season cost Miami an AFC East title, a home playoff game, and quite possibly the No. 1 overall seed in the AFC.
While most analysts are fixated on wins, losses, and Super Bowl victories, only one team can win the Super Bowl. The Dolphins were plagued with injuries toward the end of last season, so take the ending to their 2023 season with a grain of salt. Can they make up for the missed opportunity in 2024? A Week 1 win over the Jacksonville Jaguars is a great start.
What Is Tagovailoa’s Net Worth?
There have been different estimates of Tagovailoa’s net worth, from $4 million to $14 million. However, the late July extension will boost those estimates.
When Tagovailoa was drafted in 2020, he signed a four-year rookie contract at $30,275,438. His average annual salary was just $7,568,860, and his fully guaranteed contract included a $19,578,500 sign-on bonus.
Up to this point, Tagovailoa has made $30,337,917 throughout his first four seasons as the Dolphins’ quarterback. However, that’s not all that he has made during his time as a professional athlete. Tua has been making money off the field with sponsorships from some big-name brands like Adidas, Bose, Muscle Milk, and Wingstop, just to name a few.
It’s safe to say that Tagovailoa is set for life financially. With the contract signed, will he finally be able to get Miami a playoff win for the first time since 2000?