Clay suffered the injury during Miami's Week 15 win over the Jacksonville Jaguars.
Appearing in 14 games for the Dolphins this season, Clay caught 18 passes and was targeted 33 times. Clay gained 212 receiving yards and caught two touchdown passes.
Clay's numbers in 2011 are eerily similarto his 2012 numbers Last season, Clay appeared in 14 games for the Dolphins, catching 16 passes on 25 targets, for 233 yards and three touchdowns.
Miami has utilized Clay in an H-back role, as Clay served as a fullback and tight end. Per the Sun-Sentinel, Clay will need roughly three months to recover from the surgery, and should be healthy enough to participate in Miami's offseason program.
With Anthony Fasano ticketed for free agency, it's quite possible that Clay's role will expand in 2013 -- but there's a long way to go between now and then.