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, including $52.535 million at signing, agent Drew Rosenhaus told ESPN. It makes him the highest-paid wide receiver in NFL history. The $72.2 million total becomes fully guaranteed at the start of the 2023 league year. The three-year total of the deal is $72.5 million. Hill was already under contract for the 2022 season. The total value of his deal including the $120 million in new money is $141.685 million, including $250,000 in Pro Bowl incentives each year.

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.

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The Jets' trade offer to the Chiefs for Hill -- which Kansas City would have accepted if the wide receiver had 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.

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The Dolphins' odds at Caesars Sportsbook to win the Super Bowl improved from 70-1 to 40-1 with the trade. Their odds to win the AFC improved from 35-1 to 20-1 and the AFC East from +675 to +400.

Results-Townsquare Media Sioux Falls Most Read South Dakota Stories of 2021

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