After much talk of a new contract in the works for Star Cornerback Xavien Howard, the Dolphins actually signed him to an extended contract. As reported by NFL Network’s Mike Garafolo (on Twitter), the pact has a term of five years and includes $50.7 million in new funds. 
USA Today’s Josina Anderson adds that the new annual average Howard will receive is just over $25.3 million (Twitter shortcut). According to his agent, that number sets a new record for the most new money made by a player signing a revised contract. Howard was previously on his existing contract for three years and $39.3 million, so he’s now on the books for the next five seasons at a cost of $90 million. Meanwhile, ESPN’s Field Yates reports that the new deal also includes the most guaranteed money ever given to a corner (Twitter shortcut).
The 28-year-old agreed to a restructured contract before the start of last season and actually revised it a second time in November. As Yates notes, these moves came with an understanding that a longer-term contract (and with it a sizeable pay rise) was coming relatively soon. That time has definitely come now. After six seasons in Miami, the three-time Pro Bowler has a total of 27 interceptions and 71 pass deflections, leading the league in every category during a 2020 All-Pro campaign.
The annual average of over $25 million comfortably eclipses the previous record for cornerbacks held by Jalen Ramsey at exactly $20 million a year. Pro Football Talk’s Aaron Wilson reports that Howard is the first cornerer to have his compensation fully guaranteed for five seasons. He also now has the unique distinction of being the first player to have his contract extended for four years at the time of signing and now three.
This marks the second notable financial move the Dolphins have made regarding their CB tandem. You have restructured Byron Jones’ Contract signed a week ago to allow some financial flexibility while also keeping the couple under contract. Of course, in other major news this offseason, Miami has added those as well Tyreek Hill and Terron Armstead.
The Dolphins appear to have a vastly improved offense in 2022. However, the back end of their defense will remain the squad’s strength for the foreseeable future, with Howard at the side for the long term.