Source: Dolphins, Tyreek Hill agree to restructured $90M deal

MIAMI -- The Miami Dolphins agreed to a restructured contract Saturday with wide receiver Tyreek Hill that will keep him among the highest-paid skill position players in the NFL.

The restructured contract is worth $90 million over the next three years with $65 million of it guaranteed, a source told ESPN's Adam Schefter. No new years were added to the four-year, $120 million extension Hill signed with the team in 2022, but the $106.5 million in updated fully guaranteed money is the most-ever for a wide receiver.

The deal, negotiated by Drew Rosenhaus and Jason Rosenhaus, also represents the most guaranteed money added to a contract without adding any years in NFL history.

The Dolphins traded for Hill during the 2022 offseason, and he has transformed their offense. He leads all players with 3,509 yards in that span, and only Davante Adams received more than Hill's 30.7% of his team's targets.

He has also remained the NFL's preeminent downfield threat; he's tied with Justin Jefferson for the most receptions of at least 20 yards with 54 over the past two seasons. He also leads all skill position players with nine plays of at least 50 yards since 2022 -- more than 24 teams have recorded in that same span.

Hill, 30, made it no secret that he wanted to be paid like one of the best receivers in the NFL, following an offseason that saw four receivers sign extensions that surpassed his in total guarantees -- including teammate Jaylen Waddle.

The five-time All-Pro also made it clear that unlike the last time he wanted an upgraded contract, which led to his trade from the Kansas City Chiefs, he had no interest in being traded or strong-arming the Dolphins into doing something that hurt the team's financial flexibility.

"The only thing I told Drew was like, 'Do not get me traded,'" Hill said in July. "I want to stay here in Miami because obviously this is where family is now. Everybody loves it here. Family loves it, wife loves it, kids love it. So obviously I love it. I love playing for Coach [Mike McDaniel] and the team. My teammates are awesome so I wouldn't want to leave. The fans are awesome, too. I just love how the fans hold us accountable every day on Twitter. So we're getting better, I promise you. We're not just sitting around drinking smoothies. We're getting better."

With Hill signed, the Dolphins have locked in the core of their passing game with Waddle and quarterback Tua Tagovailoa also inking extensions this offseason.

A captain in each of his two seasons in Miami, Hill has drawn praise from the team's coaching staff for his leadership, in both what he says and what he does.

"How can you ask that of other players if you don't do that yourself?" McDaniel said. "I think Tyreek has done a great job of identifying things that he can improve on, that he wants to improve on. And when you have leadership from one of the best players, if not the best player in the league, it's impossible for teammates not to listen. So, I think he's really enjoyed that platform and he just really makes me proud every day, the way he's growing up."