However, the belief is that the Dolphins will be able to get a contract extension worked out before the start of free agency, according to Florio.
Grimes, himself, recently mentioned that he was “cautiously optimistic” the two sides would be able to reach an agreement at some point.
The Dolphins have plenty of cap space to with as they are projected to have over $39 million at their disposal this offseason, and a multi-year contract would at least offer them a more reasonable cap figure in 2014.
The franchise tag would cost them $11.834 million fully guaranteed for next season.
Should Grimes be available to reach the open market, he’s almost certain to have plenty of interest.
Grimes, 30, put together a great season that earned him a trip to the Pro Bowl. He tallied 60 tackles, four interceptions including one for a touchdown, and 16 pass defenses. He was also the No. 2 cornerback in the league, according to Pro Football Focus.
We have him listed as the No. 9 player in our Top 50 Free Agents list.