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The Miami Dolphins haven't had a surefire franchise quarterback since Dan Marino, but they are reportedly negotiating a long-term deal to keep Ryan Tannehill under center in South Beach.

However, Tannehill says the two sides have not spoken about a new contract.

Continue for updates.

Dolphins 'Won't Hesitate to Use Fifth-Year Option' to Retain Tannehill

Monday, March 23

"If an agreement can't be reached in the next six weeks, sources say Miami won't hesitate to exercise the team's fifth-year option on Tannehill, guaranteeing the 2012 first-round pick roughly $16 million for the 2016 season," reported Omar Kelly of the South Florida Sun Sentinel.

Kelly also explained what that means while relaying the deadline date to do so: "The Dolphins must exercise the fifth-year option on May 1 to lock Tannehill up for the 2016. If they do so, committing to pay Tannehill the average salary of the top 10 quarterbacks in the NFL, he'll earn just short of $29 million for the first five years of his NFL career."

"We like the player a lot. Our hope and expectation is he’ll be here for a long time," said Mike Tannenbaum, the Dolphins' vice president of football operations, about Tannehill's possible contract extension. "When a long-term deal gets done, I don’t have a timetable right now."

Tannehill Says He Hasn't Discussed New Contract

Tuesday, Mar. 3

Adam Beasley of the Miami Herald spoke to Tannehill, who says he and the Dolphins have not discussed a new contract.

The South Florida Sun Sentinel's Dave Hyde (h/t CBSSports.com's Larry Hartstein) reported on March 9 that the Dolphins were working on an incentives-based deal for Tannehill that would be for seven years and approximately $105 million.

Only the first two years of the contract would be guaranteed, with a yearly salary of $15 million, according to the source Hyde cites.

Harstein adds more details, referencing the Sun Sentinel report:

Miami has three options regarding Tannehill, per the paper. The team can let him play out the last year of his contract at $2.1 million and allow him to hit free agency; pick up his fifth-year option for 2016 at roughly $15 million, money that would be guaranteed in case of injury; or negotiate an extension.

Ian Wharton of Optimum Scouting feels Tannehill's potential contract should fall in line with the one Cincinnati Bengals QB Andy Dalton is playing under:

However, Mike Florio of ProFootballTalk.com reports that multiple sources have told him that contract negotiations between the two sides have yet to commence.

Tannehill brings a unique skill set and background to the gridiron. Having started as a standout wide receiver at Texas A&M, he made a late transition to quarterback in college. That gave him little experience entering the pros, yet the Dolphins chose him No. 8 overall in the 2012 NFL draft.

Despite having to pick up a new offense for the first time in his pro career during 2014, Tannehill made strides. He posted career-best numbers in completion percentage (66.4), yards per attempt (6.86) and touchdown passes (27).

In addition to throwing for over 4,000 yards, the young signal-caller racked up 311 on the ground on 5.6 yards per rush.

Bleacher Report's Mike Freeman weighed in on Tannehill's progress, per a Feb. 5 report by The Finsiders' Brian Croyle:

I've always been a big Tannehill guy…And I think you've answered the question of 'is this your franchise guy?' and I think he's your franchise guy. I think that question has been answered. Now just comes putting everything else around him, getting other pieces on defense. But they took a huge step forward to me.

Tannehill has the arm talent to make all the throws and is still learning the nuances of the position, so his upside is tremendous. His athleticism makes for an intriguing future as a dual-threat playmaker, too.

It appears Miami has faith that Tannehill still has a ways to go before he reaches his perceptibly high ceiling. The Dolphins must be sure to surround Tannehill with top-tier talent, which has become a bit complicated due to the considerable investment in temperamental wide receiver Mike Wallace.

The emergence of Jarvis Landry helps the receiving corps, but Tannehill could use another weapon to make the most of 2015 and beyond. Based on the reported negotiations with the Dolphins brass, they are counting on Tannehill to lead the organization to pro football's promised land.

Head coach Joe Philbin is likely on the hot seat this next year, so Tannehill would do well to lead Miami to the postseason for the first time in his young career.