The Miami Dolphins are heading into a pivotal offseason, and while most of the spotlight is understandably on quarterback Tua Tagovailoa and his $214 million contract, there's another massive decision looming that could reshape the offense just as dramatically - what to do with Tyreek Hill.
Yes, Tagovailoa's future is the headline-grabber, but Hill's situation is arguably the more urgent financial puzzle Miami has to solve. At 32 years old this March and carrying a staggering $51 million cap hit in 2026, Hill’s contract is one of the most expensive in the league for a non-quarterback. And coming off a tough injury in 2025, the Dolphins are staring at a tough call: keep him for another run, trade him, or cut ties and take the financial hit.
Let’s break this down.
The Cap Crunch
Hill’s contract is a monster. If the Dolphins were to release him before June 1, they’d eat a $28 million dead cap charge in 2026 - a painful blow for any team, even one trying to reset.
But if they designate him as a post-June 1 cut, that dead cap number drops to $15 million in 2026, while freeing up $35 million in savings. Of course, that pushes more dead money into 2027, but it spreads the financial damage out, making it a bit easier to digest.
Given the scale of Tagovailoa’s contract and the uncertainty surrounding his long-term role in Miami, the Dolphins may need to clear serious cap space just to maneuver through the offseason. That’s where Hill’s deal becomes a potential casualty. Moving on from him could be less about performance and more about financial survival.
Hill’s Value - and Risk
Even if he’s not 100%, Hill still brings elite-level explosiveness that can flip a game in a heartbeat. He’s one of the few wideouts in the league who demands double coverage almost every snap, and that alone opens up the field for everyone else. But the reality is, paying $51 million for a wide receiver - especially one coming off an injury and entering his mid-30s - is a luxury few teams can afford.
And the trade market? That’s tricky.
With that kind of contract, it’s unlikely teams will be lining up to give up both draft capital and cap space. So if the Dolphins do decide to move on, a release - rather than a trade - becomes the more realistic route.
A Franchise-Defining Offseason
This isn’t just about Hill or Tagovailoa individually. It’s about the Dolphins figuring out who they are moving forward.
Do they double down on the current core and try to make one more run? Or do they start reshaping the roster now, taking the cap hits and getting younger?
The decision on Hill could be the first domino. If Miami lets him go, it signals a shift in direction - one that could also impact how they handle Tagovailoa’s future. And while Tua’s $99 million decision might be the biggest in terms of raw dollars, Hill’s situation might be the one that forces the Dolphins’ hand first.
One thing’s clear: the Dolphins are entering an offseason where every move carries weight. And whether Hill stays or goes, this team is about to look very different - on the field and on the books.