According to Rapoport, the two sides are hoping that can get an extension in place before the start of the new league.
This would allow the Dolphins to use their franchise tag on DE Olivier Vernon.
Wake has come up as a potential cap casualty. However, the Dolphins reportedly would prefer to keep than cut him loose.
Wake, 34, is in the fourth year of his five-year, $34.53 million contract that included $17 million guaranteed. He’ll make a base salary of $8.2 million this season and another $8.275 million next year.
This season, Wake has appeared in seven games and recorded nine tackles, seven sacks, and four forced fumbles for the Dolphins. Pro Football Focus has him rated as the No. 3 defensive end in a 4-3 defense out of 46 qualifying players.
We’ll have more regarding an extension for Wake as the news is available.