Dolphins Restructure Contracts Of Tyreek Hill, Others: Report
By Jason Hall
March 10, 2023
The Miami Dolphins have reportedly restructured deals with wide receiver Tyreek Hill and left tackle Terron Armstead, one day after previously agreeing to a restructured deal with linebacker Bradley Chubb.
Hill's restructured deal will reportedly convert his $10 million roster bonus and $16 million salary into a $24.835 million bonus and a $1.165 million salary, which will save an estimated $18 million in cap space, sources with knowledge of the situation told ESPN's Adam Schefter on Friday (March 10). Armstead's reworked deal will reportedly create $11.876 million in cap space, according to ESPN's Field Yates.
The Dolphins had previously cleared $14.876 million in salary cap space by restructuring Chubb's contract on Thursday (March 9), having been one of the few NFL teams in the red for salary cap space prior to the move, which converted $18.32 million of Chubb's salary into a signing bonus. In total, the three restructured deals created $44 million in cap space.
Dolphins are converting Tyreek Hill’s $10 million roster bonus and $16 million salary into a $24.835 million bonus and an $1.165 million salary, saving the team about $18 million against their salary cap, per sources.
— Adam Schefter (@AdamSchefter) March 10, 2023
The Dolphins reworked Terron Armstead’s deal, creating $11.876M in cap.
— Field Yates (@FieldYates) March 10, 2023
The Cardinals reworked DJ Humphries’ deal, creating $5.33M in cap.
The Eagles reworked Jake Elliott’s deal, creating $2.492M in cap.
The Ravens reworked Michael Pierce’s deal, creating $2.668M in cap.
The Dolphins also reportedly informed quarterback Tua Tagovailoa that they will pick up the fifth-year option on his rookie deal, sources with knowledge of the situation confirmed to NFL Network's Mike Garafolo on Friday. Tagovailoa will be guaranteed $23.2 million for the 2024 season as part of the move, which provides the latest example of the team's plans for the 25-year-old to be its long-term option at quarterback.