The Dolphins have the most cap room of any NFL team, and they have a glaring need at WR. The good news for them is that the WR market is shaping up nicely. Mike Wallace, Greg Jennings, Wes Welker, Dwayne Bowe and Victor Cruz are all on the market.
Right now most reports suggest that Wallace is the most likely target. I am not sold on him, as I think he is going to get top dollar. I do like Victor Cruz out of this group. I feel like he is a guy that will catch anything around him and will succeed no matter what offense is being run.
The truth is that the Dolphins could add two of these big name targets with the room they have. The bad news is this is such a passing league now it's hard to get anyone for under top dollar (remember was Garcon got last year from Washington?). With that being said, look at the turn around Washington had. A deep WR core has helped a lot of teams in the past, and if they feel confident Tannehill just needs some talent around him you might see them making a lot of signings at WR.