The Kansas City Chiefs have reportedly traded All-Pro wide receiver Tyreek Hill to the Miami Dolphins.
NFL Network's Ian Rapoport reports the Chiefs will receive "a first-round pick and more" and Hill has agreed to a contract extension, which will make him "among the highest-paid WRs in the NFL."
Hill's agent, Drew Rosenhaus, confirmed that the four-year extension was worth $120 million with $72.2 million guaranteed, Rapoport reported.
Rapoport initially tweeted that the Chiefs had given Hill's agent "permission to seek a trade" after negotiations between the two sides on a long-term extension stalled, sources with knowledge of the situation confirmed.
The Chiefs were reportedly willing to make Hill one of the league's highest-paid receivers prior to granting permission to seek other offers.
ESPN's Adam Schefter reports the New York Jets and Miami Dolphins had both made serious offers for Hill.
The Chiefs reportedly received offers from "multiple teams" but the Jets and Dolphins "emerged in recent days as the two finalists" and Hill was "likely to wind up as a Jet or Dolphin" prior to confirmation that he chose Miami.
Schefter later added that Hill would ultimately decide between the Jets and Dolphins and was said to be "torn" as of Wednesday (March 23) morning.
The Dolphins were reportedly willing to offer the Chiefs "a first-round pick and more" in exchange for Hill, according to Rapoport, who confirmed the wide receiver would sign a long-term extension with whichever team acquires him prior to the reported agreement.
NFL Network's Tom Pelissero reports the Chiefs are hosting free agent Marquez Valdes-Scantling as a potential replacement for Hill on Wednesday (March 23).
Kansas City also signed former Pro Bowl receiver Juju Smith-Schuster last week.
Hill is a three-time All-Pro (2016, 2018, 2020) and six-time Pro Bowl (2016-2021) selection and a member of the NFL 2010s All-Decade Team, having emerged as Patrick Mahomes' primary wide receiver in a loaded Chiefs offense during his six-year NFL career.
The 28-year-old recorded a career-best and franchise-record 111 receptions, as well as 1,239 yards and nine touchdowns, as well as 96 rushing yards on nine attempts, during the 2021 NFL season.
Hill also has the Chiefs' franchise record for receiving yards in a season (1,479, 2018) and is tied with Dwayne Bowe (2010) for most touchdown receptions in a season (15, 2020).
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