Can Miami Dolphins, Tyreek Hill Work Out Contract Fix?

MIAMI GARDENS, Fla. — Monday was a good day in the Tyreek Hill household.

With news of Justin Jefferson’s four-year, $140 million contract extension from the Vikings, Hill — the Miami Dolphins‘ electric wide receiver — got yet another bit of leverage in his quest for an adjusted contract of his own.

“Everybody waking up happy. Wife waking up happy, my oldest son waking up happy,” Hill said after Dolphins minicamp Tuesday. “So it’s a great day.”

A Creative Contract Proposal for Miami Dolphins WR Tyreek Hill

And a potentially expensive one for the Dolphins.

Fortunately for them, it probably won’t take a top-of-the-market deal to satisfy Hill’s demands for a new deal.

“We already know being greedy ain’t gonna help the team,” Hill said.

Tyreek Hill on his contract: “Being greedy ain’t gonna help the team.” pic.twitter.com/DjhhpXcqGl

— Adam Beasley (@AdamHBeasley) June 4, 2024

When asked what’s more important, retiring a Miami Dolphin or maximizing his earnings, Hill replied:

“Ensuring I’m a Dolphin for life. That’s No. 1, man. That’s priority No. 1 man. This is obviously the best situation for myself and the family.

“I don’t think it could get any better, you know, whether it’s just a living establishment, the state, the taxes, just everything, the weather.

“Everything that comes with just living in Miami is just beautiful, man, so we love it. and it’s awesome just to be here. Coaches are wonderful, teammates are wonderful, and I’m like a 20-minute flight from the Bahamas, so I can just go to Baha Mar anytime I want to and do what I gotta do.”

If Hill truly means that, his agent, Drew Rosenhaus, and the Dolphins should be able to work something out.

Before we explain how, however, something needs to be said: It’s a bit wild that Hill is lobbying for more money at this point. He has three more years left in his current deal, and even with the recent explosion in wide receiver salaries, he’s still fourth at his position in AAV ($30 million).

But that figure needs context. His owed earnings over the next three years are $19.8 million in cash in 2024, $22.9 million in 2025, and $45 million in 2026, with only this year guaranteed.

So theoretically, the Dolphins could cut or trade him after this season — although it’s far more likely they would try to trade him. And even if he plays under his existing terms in 2025, there’s no chance the Dolphins pay Hill $45 million in 2026 with a $56.3 million cap charge.

Our suggestion? Rework those final three years in a way that Hill would have a realistic path to earning all $87.7 million that he’s owed — and then some.

Here’s what we would propose: A rewritten three-year deal with $56 million guaranteed, including $40 million in bonuses for the next two years. His base salaries in those three years? $1 million in 2024, $15 million in 2025, and $34 million in 2026.

To make it work, the Dolphins might need to throw a couple of void years on the end, but it would keep their cap situation manageable and presumably keep their best player happy.

“I feel like at the end of the day, if you feel like you’re top five or something … like if you work at Amazon. If you’re like one of the best Amazon delivery drivers, you’re gonna feel a certain type of way. You’re gonna go to your boss and say, ‘Hey, bro, I’m doing 100 routes, and this person is only doing 65 routes. I’m supposed to be the top-paid person.’ You feel me? So if you feel like you deserve something, you feel, go get it, you feel me? Top five, all day.”