The Kansas City Chiefs are trading 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, sources told ESPN on Wednesday.
The Dolphins are giving Hill a four-year, $120 million extension, including $72.2 million guaranteed, agent Drew Rosenhaus told ESPN. It makes him the highest-paid wide receiver in NFL history.
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.
The Jets’ trade offer to the Chiefs for Hill — that Kansas City would have accepted if the wide receiver 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 $28.5 million per season and includes $67.5 million fully guaranteed.
The Dolphins’ odds at Caesars Sportsbook to win the Super Bowl improved from 70-1 to 40-1 with the trade while 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.
Dolphins assistant general manager Marvin Allen was the Chiefs’ director of college scouting for five years, from 2013 to 2017, when Kansas City drafted Hill.
The addition of Hill gives Dolphins quarterback Tua Tagovailoa a true No. 1 wide receiver to aid in his development. The Dolphins also added wide receiver Cedrick Wilson in free agency and have dynamic wide receiver Jaylen Waddle, who had 104 receptions for 1,015 yards and six touchdowns in his rookie season.
The Dolphins have also added two new running backs in free agency in Chase Edmonds and Raheem Mostert.
Hill, who has been selected to the Pro Bowl in all six seasons of his NFL career, had a career-best and franchise-record 111 receptions for 1,239 yards and nine touchdowns for the Chiefs last season.
He has 479 receptions for 6,630 yards and 56 touchdowns in his career. He is one of four players since 1970 with at least six touchdown catches in each of his first six NFL seasons, according to ESPN Stats & Information research. The others are Randy Moss, Larry Fitzgerald and Marvin Harrison.
The Chiefs’ wide receiver corps now includes free-agent addition JuJu Smith-Schuster, Mecole Hardman, Josh Gordon, Justin Watson, Cornell Powell, Gehrig Dieter and Corey Coleman.
The Chiefs still are expected to add wide receivers in free agency and the draft.
Since Patrick Mahomes became the Chiefs’ starting quarterback in 2018, he had linked up with Hill for 41 touchdowns, the second most by a QB-receiver duo in that time, according to ESPN Stats & Info research.
With the exception of tight end Travis Kelce, 32, who signed a four-year extension in 2020, all of the big-money contracts the Chiefs have given out since Brett Veach became the team’s general manager have gone to players in their mid-20s .
The Chiefs’ odds at Caesars Sportsbook to win the Super Bowl grew from +850 to +900 while their odds to win the AFC are now +500 from +400 and the AFC West are now at +175 from +130.
ESPN’s Adam Teicher contributed to this report.