Dolphins Rumors: Tyreek Hill Restructures Contract; MIA Saves 'About $18M' in Cap

Miami Dolphins All-Pro wide receiver Tyreek Hill reportedly agreed to restructure his contract Friday.

According to ESPN's Adam Schefter, the Dolphins will convert Hill's $10 million roster bonus and $16 million salary into a $24.835 million bonus and a $1.165 million salary, yielding the team about $18 million in salary cap savings.

Upon getting traded to Miami from the Kansas City Chiefs last offseason, the Dolphins signed him to a four-year, $120 million contract extension through 2026.

After earning six Pro Bowl nods and three first-team All-Pro selections in six seasons with the Chiefs, it was unclear how Hill would fare away from quarterback Patrick Mahomes and head coach Andy Reid.

Hill proved last season that he could get the job done without Mahomes and Reid, though, setting new career highs with 119 receptions and 1,710 receiving yards while also scoring seven touchdowns.

With head coach Mike McDaniel calling the plays and both Hill and Jaylen Waddle giving opposing defenses headaches, quarterback Tua Tagovailoa enjoyed what was by far the most productive season of his career in 2022.

In 13 games, Tagovailoa threw for a career-high 3,548 yards and 25 touchdowns, while posting an 8-5 record and helping to lead the Dolphins to the playoffs.

Injuries are a concern for Tua, as he suffered multiple concussions last season and missed Miami's playoff loss to the Buffalo Bills because of one, but when healthy, he is a major threat thanks largely to the presence of Hill.

Hill restructuring and creating cap space is huge for the Dolphins since they have several key free agents who they will either need to re-sign or replace.

Among them are tight end Mike Gesicki, running backs Raheem Mostert and Jeff Wilson Jr., linebackers Elandon Roberts, Andrew Van Ginkel and Melvin Ingram.

Miami could also be poised to lose significant offensive line and secondary depth, along with backup quarterback Teddy Bridgewater.

While the Dolphins were much improved last season, they still just barely made it into the playoffs with a 9-8 record, which suggests they could use some upgrades at several positions as well.

Spotrac projects Miami to have the ninth-most cap space in the NFL this offseason at $29.9 million, meaning general manager Chris Grier should be busy.