Kelly: Not extending Hill’s contract would be a mistake Dolphins can’t afford

Tua Tagovailoa’s contract situation is clearly the Miami Dolphins most pressing financial matter.

The Dolphins have until the start of the regular season to figure out how to follow through with their promise to lock up the NFL’s leading passer, a 2024 Pro Bowler, to a multi-year deal that provides his financial security, and ensures he’s Miami’s starting quarterback for the foreseeable future.

But Tagovailoa isn’t the team’s only Pro Bowl talent who wants, if not needs his contract addressed in the coming weeks, if not months.

Tyreek Hill, an elite talent who was named to the Pro Bowl in each of his first eight seasons, is entering the final year he has guaranteed money ($19.7 million) on his contract. When a player of his caliber, his cache and market appeal, reaches that status they generally want the contract reworked, possibly extended with a guarantee of more money in future years.

This is how business typically gets done in the NFL for elite players like Hill.

Considering Hill’s the Dolphins’ most important player, all All-Decade talent who is one of the NFL’s top five offensive weapons, the 30-year-old has a right to hold his hand out.

Like Tagovailoa, Hill has seen his peers be compensated handsomely this offseason, and even though he remains the third highest paid NFL receiver $23.9 million in salary receivers will actually get deposited in their bank accounts (no fake money allowed), Hill has made it clear he wants his salary standing elevated back up into the position’s upper echelon.

“If you are one of the best Amazon delivery drivers, you’re going to feel some type of way [if someone earns more],” said Hill, who has been the league’s most productive receiver over the last two years, averaging 119 receptions, nearly 1,755 receiving yards and 10 touchdown catches during his two year tenure in Miami. “You’re going to go to your boss and say, ‘Hey bro, I’m doing 100 routes, and this person is only doing 65 routes. I’m supposed to be the top paid person.’ You feel me?

“So if you feel like you deserve something, go get it.”

Hill is scheduled to make $19.8 million this year, $22.9 million in 2025 and is on the books for $45 million in 2026 for a total of $87.7 million over the three years. Problem is, that 2026 salary was something the Dolphins never intended to honor. It was put into his contract to artificially inflate Hill’s average salary per season, bumping it up from $24 million to $30 million.

The Dolphins technically have Hill under contract for next season as a respectable price, but there are no guarantees in his deal, which would be problematic for Hill and his camp.

Miami can do a restructuring or an extension now, and it would actually help extend the expiration date on this roster as presently constructed because re-doing Hill’s deal could create as much as $14 million in additional cap space if he’s given one, or two-year extension, even if he remains one of the NFL’s three highest paid receivers.

And all it would require is a healthy signing bonus from owner Steve Ross.

And like Tagovailoa, whose justifications for his salary demands became even more valid with each new quarterback deal - Kirk Cousins, Jared Goff, Trevor Lawrence - that got signed this offseason, if the Dolphins decide to wait - say till next offseason, which is probably their preference - don’t be surprised if the price for a elite receiver goes up like the price for a franchise quarterback did.

Cincinnati’s Ja’Marr Chase will likely leapfrog Justin Jefferson, who will earn $28.4 million a season ($88.743 million is guaranteed) as the NFL’s highest paid receiver either in the coming months, or next offseason when Chase refuses to play in his fifth year option.

And Dallas’ CeeDee Lamb, who is also advocating for a new deal instead of playing on the final year of his rookie deal and the fifth-year option in 2025, will push the bar up even further.

That’s why Miami would be wise to address Hill’s contract now instead of waiting till the end of the season, when the five-time All Pro talent will again be pushing to become the NFL’s first 2,000 yard receiver, a feat he could have achieved the past two seasons if he’d stayed healthy.

Hill, who has had some off-the-field incidents in South Florida, but none of which have resulted in an arrest, has told everyone who will listen that he wants to call South Florida home for the rest of his career, if not life. He recently said he intends to play five more seasons before calling it a career.

The Dolphins need to do their part to make sure those five seasons happen in Miami, ensuring that a first ballot Hall of Fame talent goes into Canton remembered as a Dolphins, and not some NFL nomad who played for multiple teams, and took his talent to highest bidder.

“Ensuring I’m a Dolphin for life, that’s No. 1. That’s priority No. 1, man,” Hill said earlier this summer.

“We already know being greedy ain’t going to help the team,” Hill continued. “Whatever happens, happens, man.”