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The Miami Dolphins placed the transition tag on defensive end Olivier Vernon earlier in March but decided to allow Vernon to become a free agent after agreeing to terms with Mario Williams, per Omar Kelly of the South Florida Sun Sentinel.

Now, Vernon is on the move after agreeing to a major contract.

Continue for updates.

Vernon Signs with Giants

Wednesday, March 9

Vernon is headed to the New York Giants, per Adam Schefter of ESPN and Mike Garafolo of Fox Sports.

Ian Rapoport of NFL Network reported the deal is worth $85 million over five years with $52.5 million guaranteed.

Charles Robinson of Yahoo Sports first reported on Monday that the Giants were interested in Vernon.

Jaguars Were Interested in Vernon

Wednesday, March 9

Jeff Darlington of NFL Network reported the Jacksonville Jaguars were involved with Vernon since his transitional tag was reportedly removed.

Dolphins Reportedly Remove Vernon's Transition Tag

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Wednesday, March 9

ESPN's Adam Schefter and NFL Network's Albert Breer reported the Dolphins pulled Vernon's transition tag, allowing him to become a free agent. Schefter expects Vernon "will command big dollars."

Breer added: "Miami can get a 2017 comp pick for [Vernon] now—which could be as high as a third-rounder. Couldn't if he had the tag on him."

Vernon Comments on Status with Dolphins

Wednesday, March 9

Vernon posted a column on The MMQB revealing that he likely won't be re-signing with the Dolphins:

I honestly thought the Dolphins and I would be able to work out a deal. I thought we would find something to agree on. So I didn’t know I was going to hit the free agent market until the day I got the transition tag. It all came down to the stipulations with the salary cap in Miami; they don’t have much room to maneuver. Once I understood that, it started to sink in a little bit, that I probably won’t be here. I’m 25 years old, and for the first time in my life I probably won’t be playing football in Miami.

Market 'Robust' for Vernon

Monday, March 7

Robinson reported the Oakland Raiders, Jacksonville Jaguars, Cleveland Browns and Tennessee Titans were all possible destinations for Vernon.

Vernon Has Earned Big-Money Deal

The 25-year-old logged 7.5 sacks and 61 combined tackles last season and, per Spotrac, stands to make $12.734 million in salary for the 2016 campaign.

A native of Miami, Vernon thrived playing for his hometown team. He has done enough to earn a multiyear payday, and since the Dolphins have lost him, they'll be down a key pass-rusher from a team that finished tied for 25th with only 31 sacks in 2015.

NFL Salary-Cap Room As of Monday, March 7 League Rank Team Cap Space 1 Jacksonville Jaguars $83,236,096 2 Oakland Raiders $65,387,576 3 San Francisco 49ers $62,929,755 4 New York Giants $56,629,617 5 Tampa Bay Buccaneers $53,708,192 6 Tennessee Titans $47,747,324 9 Cleveland Browns $42,258,470 22 Miami Dolphins $19,419,619 Source: Spotrac.com

Salary cap information courtesy of Spotrac.com.