Miami, Florida – Tyreek Hill, the star wide receiver for the Miami Dolphins, has been pushing for a new contract since the end of the 2023 season. The recent lucrative deals signed by other top receivers like A.J. Brown and Justin Jefferson have only heightened the urgency for Hill to secure a new and improved contract.
Hill, who currently earns $25 million annually in new money (not the reported $30 million), is looking to renegotiate his contract to bring his average annual salary to at least $35 million, matching the value of Jefferson’s recent deal. With significant cash payouts lined up for the next few years, including $19.765 million in 2024, $22.935 million in 2025, and a staggering $45 million in 2026, totaling $87.7 million in old money, Hill is aiming for a substantial increase in his compensation.
In order to reach the desired $35 million annual average on a three-year extension, the total value over six years would need to be $192.7 million, averaging around $32.11 million per year. However, achieving such a figure may pose challenges for the Dolphins, who may not be willing to meet Hill’s demands based on their financial strategy.
Despite the potential hurdles, Hill now has a benchmark to strive for following Jefferson’s latest contract. However, with a significant portion of the team’s salary cap already allocated to Hill and fellow receiver Jaylen Waddle, questions arise regarding the Dolphins’ ability to afford a long-term deal for quarterback Tua Tagovailoa. The financial balancing act of rewarding key players while maintaining flexibility within the salary cap will be crucial for Miami’s future success.
As negotiations unfold between Hill and the Dolphins, the allocation of resources within the team will be closely monitored. The impact of Hill’s potential new contract on the team’s ability to meet the financial demands of other key players, particularly Tagovailoa, will play a significant role in shaping Miami’s roster and competitive position in the seasons to come.