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Tyreek Hill contract restructure continues to build salary cap space for Miami Dolphins

The Miami Dolphins continue their 2023 free agency preparations with a restructure of wide receiver Tyreek Hill’s contract.

AFC Wild Card Playoffs - Miami Dolphins v Buffalo Bills Photo by Bryan M. Bennett/Getty Images

The Miami Dolphins are busy in the final few days of the 2022 league year. When the NFL begins its 2023 year on March 15 at 4 p.m. ET, the Dolphins will be ready to jump into the start of free agency thanks to the recent series of moves the team has made. After restructuring the contracts of linebacker Bradley Chubb and tackle Terron Armstead and releasing tight end Cethan Carter, a report now indicates the team is doing a restructuring with wide receiver Tyreek Hill’s contract.

Releasing Carter saved the Dolphins about $2.3 million against the salary cap for next year. The Chubb restructure added $14.7 million in savings, while Armstead's new deal adds another $11.9 million in cap space for Miami. Now, according to ESPN’s Adam Schefter, Miami has moved Hill’s roster bonus and part of his base salary for 2023 into a signing bonus, giving the team about $18 million in additional cap space this year.

Across the four moves, Miami has added about $46.9 million in savings. The Dolphins started the week above the 2023 salary cap, but these moves now have the team sitting with about $30 million in cap space, among the top ten in available space for this year.

Miami will add another $13.6 million in salary cap space on June 2, when their release of cornerback Byron Jones, who is being designated as a post-June 1 cut, processes and provides them with the relief.

The Dolphins are suddenly sitting comfortably as the free agency period draws near. The “legal tampering” period begins on Sunday, allowing teams to negotiate with soon-to-be free agents, followed by the signing period beginning on March 15. The Dolphins have made the moves to give themselves the ability to be players in free agency this year, should they so choose.