The Miami Dolphins are going to be working the phone lines with player's agents if they haven't already. Tyreek Hill is one of them.
Miami will likely approach Hill's camp to work on a restructured contract that will give Miami more flexibility with the salary cap but Hill's future plans may become prohibitive.
The star wide receiver has previously made statements that he planned to possibly retire following the 2025 season. Currently, Hill is under contract with the Dolphins through 2026. Would the Dolphins restructure his deal if Hill does indeed plan to walk away after two more seasons?
If we look at Hill's current contract, he will count $31 million in cap space in 2024, $34 million in 2025, and $56 million in 2026. If we look at those numbers in terms of cap relief, the contract doesn't turn in Miami's favor until 2026 when they will eat just $11 million against a savings of $45 million if released.
Should Hill retire after the 2025 season, the Dolphins would simply move on and save a bunch of money but the Dolphins could try and persuade Hill to restructure now. According to Overthecap.com, a restructured deal now would give the Dolphins an additional $12 million in working cap space.
Money would be pushed into future seasons of the current contract meaning the Dolphins will pay more next year and borrow from the potential savings in 2026. With $45 million potentially coming off the books in 2026, the Dolphins could shave that number down with more guaranteed money on the deal.
Hill currently is guaranteed $19 million in 2024 but that represents the last amount of guaranteed money. What does that mean? If the Dolphins moved on from Hill after 2024, for example, the Dolphins would not have to pay Hill any more money but they would still carry a cap hit of $22 million.
The Dolphins would be smart to approach Hill about a restructure and if Hill plans to play through 2025 or into 2026, he would be smart to take the deal and guarantee himself more money down the road. The question Miami has to ask is when does Hill plan to leave the game and is he still thinking after the 2025 season? If so, the Dolphins will need to figure out how much they are going to eat when that time arrives.