Miami Dolphins quarterback Tua Tagovailoa grabbed the mic at practice on Sunday to deliver a message that was effectively a celebration.

"Show me the money!" Tagovailoa exclaimed before he thanked the fans for their attendance.

Afterward, Tagovailoa continued to express his thankfulness on the day he officially signed his four-year, $212.4 million extension with the Dolphins.

The deal makes him the highest paid player in franchise history and fifth in highest ever average annual salary. In his news conference after practice, the fifth-year quarterback said he understands the expectation of making deep postseason runs that comes with his new paycheck.

"I'm the highest-paid employee in this office," Tagovailoa told reporters. "I got to get my whatever together. I got to get that right and get our guys moving in the direction that we need to go to be able to do those things."

Before the two sides agreed to terms Friday, Tagovailoa was slated to enter the final year of his rookie contract as he was coming off a career year. He led the NFL in passing yards last season, totaled a career-high 29 touchdowns and started for the AFC in his first Pro Bowl appearance.

On Sunday, Tagovailoa said he knew everything was official when head coach Mike McDaniel and general manager Chris Grier stopped by the quarterbacks' room, peeked through the door and nodded their heads in silence. Then, McDaniel squeezed his starting quarterback so hard that Tagovailoa spilled his coffee.

"I'm fired up for the organization, really fired up for Tua and the work he's done to receive something like that," McDaniel told reporters on Sunday. "I think it's a cool validation for sure."

With his family in attendance, including his 2-year-old son, Ace, roaming behind him, Tagovailoa spoke at length about his journey from growing up in Hawaii to playing college football at Alabama and then making it to the league.

A former top high school recruit, Tagovailoa famously entered halftime of the 2018 College Football Playoff national championship game to lead Alabama to an overtime win over Georgia. But his career with the Crimson Tide ended abruptly when he suffered a season-ending hip injury in 2019.

He was eventually taken fifth overall in the 2020 draft, behind Cincinnati Bengals quarterback Joe Burrow and Los Angeles Chargers quarterback Justin Herbert, who each earned contract extensions before the start of last season.

When Tagovailoa officially made his NFL debut in Week 6 of his rookie year, he was grateful to be on the field in that moment and wasn't envisioning the nine-figure extension he signed Sunday.

"There were so many unknowns throughout that offseason as I got drafted -- 'Is he going to be able to play the same? Is he going to be able to run? Is he going to be able to move?'

"There were a lot of doubts, and as I went in there, I was just grateful that I was able to play NFL snaps."

But as much as he reflected on the past after he officially inked the deal, he and McDaniel both acknowledged what is ahead.

The Dolphins have made the playoffs in each of the last two years but were bounced in the wild card round both times. Miami hasn't won a playoff game in 23 seasons, the longest active drought in the NFL.

McDaniel acknowledged the pressure and expectations that Tagovailoa and the rest of the Dolphins embraced well before they cemented Tagovailoa's status as Miami's quarterback of the future.

"Quite frankly, Tua has shown me that throughout the entire offseason that he knows what time it is," McDaniel said. "Fortunately, him and all of his teammates can go out and determine whatever the narrative is built upon -- by the way they play."

With his contract situation officially settled before the start of the regular season, Tagovailoa is ready to look ahead to lifting the Dolphins into Super Bowl contention.

"We're looking forward to what we can do to help this team win more games and win games when it matters," he said.