The Kansas City Chiefs traded six-time Pro Bowl wide receiver Tyreek Hill to the Miami Dolphins for five draft picks: a 2022 first-round pick (No. 29), second-round pick (No. 50) and fourth-round pick, plus fourth- and sixth-round picks in the 2023 draft on Wednesday.
The trade is pending a physical, the Dolphins stated.
The Dolphins also are giving Hill a four-year, $120 million extension, including $72.2 million guaranteed and also including $52.535 million at signing, agent Drew Rosenhaus told ESPN.
The deal makes Hill the highest-paid wide receiver in NFL history. The $72.2 million total becomes fully guaranteed at the start of the 2023 league year. The three-year total of the deal is $72.5 million.
For Hill, who was already under contract for the 2022 season, the overall total value of the deal — including the $120 million in new money — is $141.685 million.
It also includes $250,000 in Pro Bowl incentives each campaign.
Both the New York Jets and the Dolphins had trades in place for Hill, according to sources. The question became where Hill wanted to become the wide receiver with a record-breaking deal.
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The Jets’ trade offer to the Chiefs for Hill — which Kansas City would have accepted if the wide receiver had opted for New York — did not include a first-round pick but rather multiple picks that were commensurate to the Dolphins’ offer based on the draft value chart that teams use, sources told ESPN. The Chiefs would have gotten picks No. 35, 38 and 69 while the Jets would have gotten Hill and pick No. 103.
Davante Adams was the highest-paid wide receiver for a week after he signed a five-year contract with the Las Vegas Raiders that averages $28 million per season and includes $65.67 million fully guaranteed.
In a statement posted to Twitter, Hill wrote: “Today starts a new beginning. I’m very excited to be joining the Miami Dolphins and get to work, however it’s hard thinking about the memories, people and fans that made my time in Kansas City so great.”
He also thanked those who joined him in giving back to the community in Kansas City through his foundation and thanked the Chiefs “for believing in me.”
“I worked hard every day to show my appreciation for you taking a chance on me. To Coach (Andy Reid), Coach (Eric) Bieniemy and Coach (Greg) Lewis, thank you for what you have taught me not only about football but about life,” he wrote.
Lastly, he thanked his now former Chiefs teammates and the fans, ending his message by writing, “Kansas City will always hold a special place in my heart!”
The Dolphins’ odds at Caesars Sportsbook to win the Super Bowl improved from 70-1 to 40-1 with the trade. Their odds to win the AFC improved from 35-1 to 20-1 and the AFC East from +675 to +400.
It’s the second major move made this week by the Dolphins to boost their offense that will be installed by new head coach Mike McDaniel.
On Tuesday, the Dolphins agreed on a five-year deal with left tackle Terron Armstead that is worth up to $87.5 million, a source told ESPN, locking up the services of one of the top free agents of the 2022 cycle. That deal includes $43.37 million in guaranteed money, the source said.
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