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The Miami Dolphins suddenly have some tough decisions to make when it comes to handing out long-term contract extensions. QB Tua Tagovailoa is playing on his fifth-year option in 2024 and has been in negotiations with the team about a contract extension. The Dolphins also let star DT Christian Wilkins walk in free agency as they were unwilling to hand him a monster extension. It seems that Tyreek Hill may be unhappy with his current contract, which could make things even more complicated.
Earlier this month, Tyreek Hill appeared on the Around the Bar podcast. He spoke on a variety of topics, including how he wants to eventually retire as a Miami Dolphin. One detail from that interview sheds some interesting light on what he may think about his current contract situation.
“I love the team I play on,” Hill said, “love the guys in the locker room, love the head coach, love the G.M. So that means sign me. I love all you guys so much, I want to stay in Miami forever, man. Keep me there.”
Hill is under contract through 2026, though his base salary of $43.9 million in 2026 has zero guaranteed money. It seems inevitable that Hill will want to renegotiate his contract at some point over the next couple of seasons.
This puts Miami in a tough situation. It can be tempting to push any renegotiations as far down the road as possible, allowing them to benefit from the superstar wide receiver on a cheaper cap hit per year. However, that could simply increase the cost whenever they do go back to the negotiating table.
We've already seen Amon-Ra St. Brown and A.J. Brown reset the wide receiver market with new contracts this offseason. Some of the best young wide receivers in the game (Justin Jefferson and Ja'Marr Chase) are due new contracts soon as well. How high could the wide receiver market climb after those new contracts?
Add on Tua Tagovailoa's looming extension and you can see how complicated Miami's situation really is.
Dolphins wide receiver Jaylen Waddle receives three-year contract extension
To make matters even more complicated, Tyreek Hill's teammate Jaylen Waddle just got paid.
Earlier today, Waddle and the Dolphins agreed to a three-year $84.75 million contract extension that will keep him in Miami through 2028.
The new money on Waddle's contract, aside from the signing bonus, does not take effect until 2026. Waddle is on the fourth year of his rookie contract this season, with a $10.5 million cap hit and base salary of just over $1 million. The Dolphins already picked up his fifth-year option, which will see him play on a $15.59 million of fully-guaranteed money in 2025. The extension adds three years on top of that.
Waddle's new contract comes out to $28.25 million of average annual value, which puts him as the fourth highest paid receiver in the NFL. His deal lags behind Tyreek Hill, Amon-Ra St. Brown, and A.J. Brown.
The Dolphins selected Jaylen Waddle with the sixth overall pick in the 2021 NFL Draft. He immediately became an awesome weapon in Miami's offense. He has eclipsed 1,000 receiving yards in each of his first three seasons and is an essential part of the Dolphins' “track team” offense.
