The Miami Dolphins and Jalen Ramsey have agreed to explore trade options for the cornerback, NFL Network’s Ian Rapoport and Tom Pelissero report.

Ramsey is owed $25.1 million in fully guaranteed money this year. However, any team that acquires Ramsey would only be responsible for $21.1 million as the Dolphins already paid him a $4-million roster bonus, Rapoport adds.

Ramsey is under contract through 2028 after signing a three-year extension worth $72.1 million in 2024.

The 30-year-old is the third-highest-paid cornerback in the NFL with an average annual value of $24.1 million, per Over The Cap.

Ramsey, acquired by Miami in a 2023 trade with the Los Angeles Rams, had his streak of four consecutive Pro Bowl campaigns snapped in 2024. He appeared in 17 games last season, grabbing two interceptions.

A top-five selection of the Jacksonville Jaguars in 2016, Ramsey has accrued seven Pro Bowl nods, three First-Team All-Pro selections, and 24 interceptions over his career.