The NFL’s franchise tag deadline is Monday at 4 p.m. ET. That leaves just a few hours for the Dolphins to decide on what to do with their most consistent defensive player.
Miami has some choices. It can use the one-year franchise tag before the afternoon deadline. The tag will cost approximately $11.5 million for cornerbacks this season -- a steep price -- but it allows the Dolphins to keep Grimes away from other teams and continue negotiating an extension into the summer. There also are other, lesser tags available to Miami.
The Dolphins could opt not to tag Grimes and allow him to become an unrestricted free agent on March 11. He is coming off a career year and will get plenty of interest in the open market.
Lastly, Miami could reach a long-term extension with Grimes by 4 p.m. ET, which seems less likely with each hour that passes on Monday.