“Dolphins’ Bold Move with Tyreek Hill Restructure: Big 2024 Savings, But 2025 Cap Concerns Loom”
The Miami Dolphins have moved into the top half of the NFL in terms of cap space following a restructuring of Tyreek Hill’s contract. This adjustment has increased their cap space for 2024, though their 2025 outlook remains less favorable.
With the contract details released by cap sites like overthecap.com and spotrac.com, it’s clear that Hill’s cap number has been reduced from $31.3 million to $18.4 million for 2024, resulting in nearly $14 million in cap savings. Despite having the highest cap number on the team for 2024, Hill’s restructuring, along with changes to Tua Tagovailoa, Terron Armstead, Jalen Ramsey, and Xavien Howard’s contracts, has helped the Dolphins eliminate all cap numbers exceeding $20 million.
Following Hill’s contract adjustment, the Dolphins now have $35.8 million in cap space for 2024, ranking fifth in the NFL. However, they are projected to be $44.4 million over the 2025 cap limit of $260 million, which is the third-worst figure in the league, trailing only the Cleveland Browns and New Orleans Saints.
After trading for Hill from the Kansas City Chiefs in March 2022, the Dolphins signed him to a four-year, $120 million extension. Hill’s contract has recently been restructured to a new three-year deal valued at $90 million, including $54 million guaranteed at signing and an additional $11 million in 2026. The revised contract features a $7 million signing bonus, guaranteed salaries for 2024 and 2025, and bonuses for 2025 and beyond, with three void years to spread out the cap hit. Hill will become an unrestricted free agent in 2027.