Tyreek Hill Current Contract Overview
Tyreek Hill signed a four-year, $120 million contract extension with the Miami Dolphins in 2022, making him one of the highest-paid wide receivers in the NFL. The deal includes $72 million guaranteed, with a full no-trade clause, per the Dolphins' official filing and reporting by ESPN and Forbes. The base salary for 2024 is $27 million, with a cap hit of approximately $35 million, reflecting the prorated signing bonus and dead money from prior structure. The contract runs through the 2026 season, with a fifth-year option exercised by Miami for the 2027 campaign. The average annual value of $30 million places Hill among the top tier of wide receivers in terms of total compensation. The structure prioritizes immediate cap flexibility for Miami while securing Hill through 2027 with significant guaranteed money.
The signing bonus was $40 million, paid entirely at signing, with a $15 million roster bonus due in 2025. The contract includes escalators tied to receptions and targets, which can add modest incentives to the base cap number. Hill's cap number is expected to rise in 2025 and 2026 as dead money from the signing bonus phases out and new guarantees are added. The Dolphins absorbed significant dead money in 2024 from the prior structure, which kept the 2024 cap hit lower than the base salary would suggest. The full contract details are available in the Miami Dolphins' official filing with the NFL and SEC public disclosures where applicable. The deal reflects the market value for a top-tier receiver with Hill's production and playoff profile.
Salary Cap Impact and Team Strategy
Hill's contract accounts for roughly 18% of the Miami Dolphins' 2024 salary cap, based on the league's projected cap of approximately $255 million. The cap hit includes the prorated signing bonus, base salary, and roster bonus, with dead money from prior years factored in. Miami's front office has structured the deal to provide cap relief in 2024 while building in higher costs for 2025 and 2026. The guaranteed money of $72 million provides Hill with financial security regardless of performance or injury status. The no-trade clause gives Hill control over any potential move, which is rare for wide receivers in the NFL. This structure allows Miami to plan roster moves around Hill's cap number while maintaining flexibility for other positions.
The Dolphins' cap space after accounting for Hill's deal remains tight, requiring careful management of other veteran contracts and draft picks. Miami's 2024 cap space was approximately $30 million before Hill's extension, and the team has since used significant cap room to address other needs. The team's strategy balances Hill's high cost with a young, cost-controlled core of players on rookie deals. The cap impact of Hill's contract is expected to increase in 2025 as the roster bonus becomes fully guaranteed and new incentives are added. The Dolphins have used restructuring options in the past to manage cap space, and similar moves could be applied to Hill's deal if needed. The overall cap strategy is designed to keep Miami competitive while honoring Hill's market value.
Contract Structure and Key Financial Terms
Guaranteed Money and Incentives
The $72 million guaranteed portion of Hill's contract includes the signing bonus and a portion of the base salary that is guaranteed against injury. The injury guarantee covers the 2024 and 2025 seasons, with additional guarantees likely to be added in future years. The contract includes incentives tied to receptions and targets, which can add up to $5 million in additional earnings if Hill meets specific performance thresholds. The incentives are structured as likely or unlikely based on historical performance, which affects how they count against the cap. The guaranteed money