Wilfredo Lee/Associated Press

The Miami Dolphins' decision to place the franchise tag on Jarvis Landry could be a precursor to trading the wide receiver.

Per Adam H. Beasley of the Miami Herald, it will be a "stunner" if the Dolphins don't deal Landry because the value of the franchise tag will place them up against the NFL's 2018 salary cap.

Beasley did note the Dolphins are open to working out a long-term extension with Landry, but it would require both sides to find some middle ground in negotiations.

The Dolphins announced on Tuesday they placed the franchise tag on Landry, who set an NFL record with 400 receptions over his first four seasons.

Landry is expected to make $16.2 million next season under the franchise tag, per Armando Salguero of the Miami Herald.

The Dolphins are currently projected to be $8.3 million over the cap next season, per Spotrac.

Salguero did note the team intends to release tight end Julius Thomas and linebacker Lawrence Timmons to save $12 million against the cap, but that will only leave the Dolphins with $4 million available to upgrade their roster through free agency and the draft with Landry's salary on the books.

Drafted by Miami in the second round in 2014, Landry led the NFL with 112 receptions and set a career high with nine touchdown catches last season. The 25-year-old had over 1,100 receiving yards in 2015 and 2016.