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The Dolphins have roughly $78 million tied up in 34 players and dead money.

With the 2013 salary cap projected at $121 million, and $5.4 million rolled over from this season's unused cap space, the Dolphins presently have about $48.4 million to spend this offseason re-signing players, luring big-ticket free agents, and signing draft picks, CFL imports and training camp bodies.

The last time the Dolphins had that much money to spend was Ireland's second offseason with the team. That spring the Dolphins used a large chunk of the team's cap space re-signing a number of their own free agents, guys like Vernon Carey, Channing Crowder and Yeremiah Bell.

Miami invested $82 million into those three starters, and coincidentally, or not, all three were cut and replaced before they could finish their contracts.

The Dolphins also spent big money on center Jake Grove and safety Gibril Wilson that offseason, and both turned out to be busts. Wilson, whose locker room and on-field presence was toxic, was cut the very next offseason. Grove started 10 games in 2009 before getting cut during an injury-plagued camp the next year.

The Dolphins guaranteed Grove $14.5 million on a five-year, $29 million deal. Wilson was guaranteed $8 million on a five-year, $27.5 million deal.

So in one offseason, as a result of two bad deals, the Dolphins' decision makers flushed $22.5 million of owner Steve Ross' money down the drain.

Ireland and company signed five players to contracts worth $138.5 million and all the Dolphins were left with was buyer's remorse.

Ross' hope is that Ireland, who was riding shotgun on all those contracts negotiated by former team czar Bill Parcells, learned a valuable lesson from the organization's past mistakes.

He'll have a do-over to prove it because the Dolphins have tough decisions to make with offensive tackles Jake Long and Nate Garner, defensive end Randy Starks, cornerback Sean Smith, tailback Reggie Bush, receiver Brian Hartline, tight end Anthony Fasano and safety Chris Clemons, starters who are all impending free agents.

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A trade ala Reggie Bush would be the best option for a wr...It wont hurt your suplimental pick

Miami invested $82 million into those three starters, and coincidentally, or not, all three were cut and replaced before they could finish their contracts.

A trade ala Reggie Bush would be the best option for a wr...It wont hurt your suplimental pick

Please provide some Wr that are available ala Bush?

I think Bush himself might be one of the better options at WR. 6 ft 200 lbs and break away speed. If you guys caught the Sherman interview where he said they needed Bush to learn the offense as a tailback first it sounds like he has a future as more of a utility guy/receiving threat if they re-sign him.

Thought you might actually know of a good Wr that could be had for a 6th Rd pick.

Great solution though. If only Miami was able to think the same.

You really never know with trades. Who would have thought both Marshall and Davis would be dealt so quickly?

First question would be which teams have an abundance of WRs?

In the free agent route, just consider that Indy, Cincy and Cleveland are in Miami's ballpark of cap space. If you were a free agent wide receiver and had the chance to go team up with Luck or get on an already established playoff team like Cincy it would certainly have sway on your decision.

As much as we all keep saying Miami needs to pony up for a free agent WR I could totally see them keeping what they have and spending early picks on guys instead.

Sometimes you don't need a top guy to do the job. Brandon Lloyd is option 3 or 4 in NE but he does a great job giving the TEs and Welker plenty of space to work the shorter routes.