The Miami Dolphins traded many draft picks for superstar receiver Tyreek Hill. The Dolphins, who already have a young star in Jaylen Waddle, recently signed Cedrick Wilson to a 3 year 22M dollar contract and also have Preston Williams as a good depth option. All signs point to DeVante Parker being on his way out of Miami, and I believe the Colts should be going after him.
DeVante Parker is 29 years old and has 2 years left on his contract. He has 338 career catches for 4727 yards and 27 touchdowns in 93 games.
Tyreek Hill trade
The Hill trade makes Parker very expendable. There have been rumblings in the past about Parker wanting out of Miami due to him being under-utilized in what was a below average offense. Hill and Waddle create a tremendous 1-2 punch that you can’t leave on the bench and the Dolphins are giving 22M to Wilson to not sit on the bench. That means that DeVante Parker isn’t going to stay around to be the #4 receiver.
Colts current WR situation & the free agent market
As it stands, the Colts’ top 3 receivers are: Michael Pittman Jr, Parris Campbell and Ashton Dulin. It’s a weak top 3 and it’s probably the biggest need on the team. Trading for Parker would give the Colts a much better top 3 in Pittman, Parker and Campbell, but adding in a good rookie in the draft would add competition for the third receiver spot which would elevate the group.
The current free market is dry. All the top talent have signed already. As it stands, the top players on the market include: Will Fuller, Jarvis Landry, Sammy Watkins and the currently injured Odell Beckham. None of those players would necessarily help the current Colts room since all have serious injury issues (chronic or current injuries) or in the case of Landry has had a big drop off in performance. The options on the market right now are very very thin.
Salary Cap Implications
If the Colts were to trade for DeVante Parker, they would inherit a 2 year contract at a value of 12.4M with a cap hit of 6.05M in 2022 and 6.3M in 2023. These are very good values, especially for a receiver who has consistently produced over his career.
The Colts currently have 15.8M in cap space according to Over the Cap, but when the roster gets down to 53, the Colts should have a few million more to work with. If they keep 4M for in-season transactions, 5M for the draft picks and 4M for a Quenton Nelson extension, the Colts will still have anywhere between 5 to 8M to spend for the rest of this offseason, which means they can comfortably afford DeVante Parker.
The Dolphins can save nearly 3M on DeVante Parker. That amount would nearly double their current number. The Dolphins are also set at receiver for the short term and the long-term with Hill and Waddle under contract for the next few years (at least). I believe that Parker will want out, and the Dolphins will benefit from getting rid of him. I don’t necessarily believe the Dolphins have a lot of leverage and will look to move him for anything. I believe the Colts can offer a 5th round pick and they’ll be able to get Parker. It might cost a 4th, but it could also be done for as cheap as a 6th round pick.
For the cost (trade and salary) on top of the fact it is a big need, the Colts should look to trade for Parker.