A day after being named the NFL’s best player by his peers, Dolphins wide receiver Tyreek Hill received a massive raise.

Per ESPN’s Adam Schefter and Marcel Louis-Jacques, the Dolphins and Hill agreed to a restructured contract that includes $65 million guaranteed.

On social media, Schefter wrote that the deal propels the fully guaranteed money on Hill’s contract to $106.5 million, the largest for a wide receiver in NFL history.

Pro-Bowl WR Tyreek Hill and the Dolphins reached agreement on a restructured contract worth $90 million over the next three years that includes $65 million guaranteed, per me and @Marcel_LJ.

This brings the four-year total of fully guaranteed money to $106.5 million, the most… pic.twitter.com/T6bXwCVd43

— Adam Schefter (@AdamSchefter) August 3, 2024

On Friday, NFL Network revealed the top 10 in its ranking of the NFL’s top 100 players in 2024, and Hill was an unexpected No. 1, besting Chiefs quarterback Patrick Mahomes (No. 4), 49ers running back Christian McCaffrey (No. 3) and Ravens quarterback Lamar Jackson (No. 2).

Reports surfaced in May that Hill had been seeking a raise since the end of the 2023 season when he had 119 receptions, 1,799 yards and 13 touchdowns.

In July, Hill told reporters, “I know when it’s time for me to get a deal, the Miami Dolphins will do what’s right.”

With the restructure, Hill becomes the latest wide receiver to receive a raise this offseason. In early May, Eagles wideout A.J. Brown signed a three-year, $96 million extension ($84 million guaranteed). A week earlier, on Apr. 24, the Lions agreed to a four-year, $120 million extension.

Then, on June 3, the Vikings and wide receiver Justin Jefferson reset the market with a four-year, $140 million deal.

Louis-Jacques noted that the Dolphins and Hill are both winners with his revised contract.

“Hill gets more money, Dolphins keep their star happy without having to totally reset the market. No drama. Everyone wins,” he wrote.

Tyreek gets more money and the title of most fully guaranteed money for a WR in NFL history — without surpassing Justin Jefferson in total value or AAV

Hill gets more money, Dolphins keep their star happy without having to totally reset the market. No drama. Everyone wins https://t.co/ru0CvmSNfO

— Marcel Louis-Jacques (@Marcel_LJ) August 3, 2024

The deal might alter Hill’s retirement plans. Last year, he shared that he intended to hang up his cleats at the end of his Dolphins contract. When he made those comments, he had no guaranteed money in 2026, which led many to predict he’d retire following the 2025 season.

With his historic restructuring, Hill has 65 million reasons to be happy to put his retirement on hold.