Blockbuster Release: Dolphins Cut Tyreek Hill, Clearing $56M in Cap Space

The February 16 Roster Purge

The Miami Dolphins made one of the most significant salary cap maneuvers in recent NFL history on February 16, 2026. In a sweeping move to clear over $56 million in 2026 cap space, the franchise officially released star wide receiver Tyreek Hill, alongside veteran pass rusher Bradley Chubb and offensive lineman James Daniels.

For fantasy football managers, the release of Hill—who was recovering from a critical knee injury that derailed his 2025 campaign—sends shockwaves through both Dynasty and Redraft rankings. Hill carried a staggering $51.1 million cap hit for 2026, making his release a financial necessity for Miami, but creating an unprecedented void in their target share.

The Jaylen Waddle Dynasty Window

The immediate, undisputed winner of this transaction is Jaylen Waddle.

Since entering the league, Waddle has proven capable of elite WR1 production, but his ceiling was naturally capped sharing the field with an apex target hog like Hill. With Hill's departure, Waddle inherits the undisputed WR1 role in Mike McDaniel's offensive scheme.

Fantasy Strategy for Waddle

• Dynasty Valuation: Waddle's dynasty stock instantly rebounds into the top-10 wide receiver conversation. If the current manager in your league is concerned about Tua Tagovailoa's overall efficiency without Hill, buy now.
• Target Projection: Waddle is now functionally guaranteed a 25%+ target share. In an offense designed around speed and yards after the catch (YAC), volume alone secures a high floor.

Evaluating Tyreek Hill's Future Value

Valuing Tyreek Hill in fantasy football is now the ultimate risk/reward calculation. He enters his age-32 season coming off a significant knee injury, transitioning to a new offensive system, and playing with an unknown quarterback.

• The Bear Case: Speed receivers historically struggle to maintain elite production post-age 30, and knee injuries accelerate that decline. If he signs with a run-heavy team or a franchise with sub-par quarterback play, his days as a set-and-forget WR1 are over.
• The Bull Case: Hill's route-running and football IQ are deeply underrated. If he lands with an elite quarterback (e.g., Kansas City reunion, or joining a high-volume passer like Justin Herbert), he retains weekly match-winning upside.

Verdict: For rebuilding dynasty rosters, Hill is a firm Sell. Wait for him to sign with a new team—which will inevitably generate a brief hype cycle—and immediately trade him for future draft capital or younger assets.

The Miami Offense: What's Next?

The Dolphins must now replace an irreplaceable talent. For fantasy managers, this means closely monitoring Miami during the upcoming NFL Scouting Combine and Free Agency.

1. Tua Tagovailoa's Value: Downgrade. Tagovailoa's efficiency metrics (yards per attempt, completion percentage over expectation) have heavily relied on Hill's unique ability to separate deep and turn short passes into long touchdowns. Expect a regression in his overall fantasy ceiling.
2. Rookie Draft Capital: Miami is now mathematically forced to target the wide receiver position in the upcoming NFL Draft. Any speed-profile receiver drafted by the Dolphins immediately becomes a premium asset in Dynasty rookie drafts, given McDaniel's scheme.