The Miami Dolphins will have to make more significant decisions on offensive contracts after extending wide receiver Jaylen Waddle to a new deal on Thursday. Tyreek Hill’s at-the-time record-breaking (for receivers) four-year $120 million contract doesn’t look impressive in 2024.
Jaylen Waddle got a sweet deal on Thursday
As previously discussed on GH, Waddle signed a new deal that will make him one of the five highest-paid receivers in the league:
According to Adam Schefter of ESPN, the Miami Dolphins and WR Jaylen Waddle have agreed to a three-year contract extension. Waddle is expected to receive $84.75 million in that stretch. Of that $84.75 million, about $76 million will be guaranteed for Waddle.
Just how significant is this? It will make Waddle one of the five highest-paid wide receivers in the NFL. Ironically, Waddle’s teammate, Tyreek Hill, is one of the only wide receivers who still makes more money annually than Waddle.
Waddle is in the top five for now. However, Waddle’s ranking will likely decrease when Justin Jefferson, Ja’Marr Chase, Brandon Aiyuk, and CeeDee Lamb get their next bag.
Those wide receivers are all chasing Hill’s contract, and some, like Jefferson and Chase, could eclipse Hill by getting a deal close to $35 million per year.
What changed since Hill’s extension in 2022? The salary cap has exploded, and Hill stands to lose from inflation.
Tyreek Hill wants a new contract
According to Mike Florio with NBC Sports, Hill is trying to work on getting a new contract from the Dolphins, and he’s been earnestly going for it since A.J. Brown signed his latest deal:
As it turns out, Hill has been aware of that. And there has been an effort to rectify it.
Per a source with knowledge of the situation, the effort to address Hill’s contract began after the 2023 season ended. That’s when Hill had 1,799 receiving yards, despite a late-season ankle injury that derailed what seemed to be a likely 2,000-yard campaign.
The effort intensified after Eagles receiver A.J. Brown got his latest new contract. Brown got his prior contract when Hill got his current one, and Brown had three years left on his contract. Like Hill does.
Can the Miami Dolphins afford Tua and another Hill deal?
The Dolphins have taken care of Waddle. They thought they took care of Hill, but it appears the six-time All-Pro is unsatisfied with his earnings. Oh yeah, the Dolphins still have quarterback Tua Tagovailoa ‘s contract to worry about.
Per Over the Cap, the Dolphins have about $1 million in cap space left for the 2024 season. They’re already in the red by over $11 million for 2025. Can the Dolphins afford to give Hill another raise (near what Jefferson and Chase will get) and keep Tua?
Remember, the Minnesota Vikings are operating with quarterback Sam Darnold and J.J. McCarthy on a rookie contract. The Cincinnati Bengals have Joe Burrow, but they had to let Tyler Boyd walk in free agency and appear ready to let Tee Higgins leave by the 2025 offseason.
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