In South Florida, contract extensions are a common occurrence.

On Friday, the Miami Dolphins signed a three-year contract extension with star cornerback Jalen Ramsey. This makes him the highest-paid cornerback in the NFL. Ramsey’s average annual value of $24.1 million surpasses Patrick Surtain’s ($24 million AAV) as of Wednesday.

Ramsey’s contract follows an offseason trend in Miami of giving new contracts to the team’s key players.

In the offseason, Tua Tagovailoa signed a four-year deal, Jaylen Waddle signed a three-year extension, Tyreek Hill’s contract was restructured to include more guaranteed money over the next two seasons, and coach Mike McDaniel received a three-year extension.

Re-signing the players and coaches who helped the team to two consecutive playoff appearances is an obvious strategy, but for the Dolphins it means something more.

We could talk all day about the on-field impact of Tua, Hill, Waddle, McDaniel and Ramsey. No one disputes whether their influence on the team is positive. But these contract extensions are as much about on-field success as off-field success.

“For me, it’s great to have core beliefs and core convictions about what we want to accomplish as an organization here,” coach McDaniel told reporters Friday.

“As coaches, we have to make the most of the players we get. If players are used to their full potential, they can be fairly compensated, no matter what. As a coach, you have to increase the value of a player. So when people come in, whoever it is, every single contract is important to me because that’s part of our job and that’s why I stay off the books and leave that to the people.”

These contract extensions are a message from the Dolphins to the league and the players that things are different this time. Miami is not exactly known for its organizational stability, especially since the 2000s.

Since 2000, the Dolphins have had seven head coaches (11 if you count the interims) and 25 different starting quarterbacks. Those are the basic principles of any football team, and for the Dolphins, instability at both positions was a problem.

Such strong belief in the core group has allowed Miami to attract its surrounding stars and keep them happy. The Dolphins didn’t owe Hill or Ramsey any adjustments to their contracts. They did it because they knew it was to the team’s advantage.

“Since he’s been here, it almost feels like a two-way goal because Jalen saw a player and leader at a different level that the team could benefit from. He took advantage of that and I think the team definitely benefited from it,” McDaniel said of Ramsey.

“I think that’s a little bit of a caveat to what makes elite players so unique. There are several of them in the league that have that captain mentality. And when you have that captain mentality and you’re a competitor that wants to dictate the terms, everyone’s competitiveness goes up. And that’s a total win for the Miami Dolphins.”

Compare the Dolphins’ offseason to that of another team with a penchant for contract drama – the Dallas Cowboys.

At the time of this writing, Dallas has not re-signed Dak Prescott, extended star pass rusher Micah Parsons’ contract, and is leaving head coach Mike McCarthy in the final year of his contract without much clarity. They just recently re-signed WR CeeDee Lamb after a public contract dispute.

These disputes and questions likely prevented the Cowboys from making meaningful free-agent additions. According to Spotrac, the Cowboys spent the least money in free agency.

Miami, a team with more clarity and long-term stability, still approached the offseason like a real contender, signing players like Kendall Fuller, Jordyn Brooks, Jordan Poyer and Aaron Brewer.

Spending more money doesn’t necessarily mean more wins, but if the Dolphins organization has a clear understanding of who the key players are and how to retain them, it should be easier to achieve long-term success.

Looking at the bigger picture, it’s fair to wonder what the benefit of an early contract extension is for a 29-year-old cornerback. Aside from appeasing a leader like Ramsey, there are good reasons on the field that this contract could age well enough.

First, Ramsey’s ability to play anywhere on defense should help his game age more gracefully. He had some of his best seasons when he played primarily as a slot defender.

Assuming his athletic ability doesn’t completely decline, Ramsey’s size and football intelligence would make him a good slot defender over the next few seasons. He would be an excellent check for teams with high-level tight ends.

Ramsey could also play more from the safety position. He hasn’t played much free safety, but he has experience as a strong safety in the box. Ramsey has the size and tackling skills to compete in the run game, and he’s a solid coverage option.

The Dolphins have been looking for a running mate for Jevon Holland for some time, and Ramsey could be a candidate. Again, the assumption is that Ramsey’s play at cornerback will decline, but that hasn’t been the case so far.

Speaking of Holland, he could be next in line for a contract extension. The safety’s rookie contract expires after this season, and since he was drafted in the second round, the Dolphins don’t have an option for a fifth year.

“I talked to (Holland) yesterday and the day before,” McDaniel said when asked about Holland’s contract extension. “I talk to him every day. And we talk about football. And again, all the things that aren’t fun in the business, that’s the great thing about Chris Grier.”

“I let him do his job and we talk about football. And that’s what he wants. He doesn’t want us to be masters of all life skills coaches… I think the players appreciate that I don’t worry about it because I don’t think that does justice to what I’m supposed to be doing for that player and all the other players that day. And so we have great conversations. “I woke him up this morning. He was really excited about the team meeting. I think he laughed at a few of my jokes. Stay tuned.”

Holland isn’t quite at the level of players like Tua, Hill, Waddle and Ramsey, but he has the potential to reach those heights.

Either way, if the Dolphins re-sign Holland, it would be another sign that the team has more confidence in its long-term stability – something it hasn’t seen in a long time.