Realistically, however, Hill's return could come several weeks into the season as he continues his recovery.
Financial considerations ultimately drove Miami's decision. Hill was scheduled to carry a $51.1 million cap hit in 2026, including a $29.9 million non-guaranteed base salary. Additionally, $11 million would have become guaranteed shortly after the new league year began in March. That proved to be too steep a commitment for a player coming off a major injury.
Garrett Podell of CBS Sports recently outlined potential fits for Hill and linked him to the San Francisco 49ers.
"The 49ers ran out of bodies in 2025, a season that ended with a 41-6 divisional-round loss in Seattle," Podell wrote. "San Francisco lost 270 player games to injury -- the most of any playoff team -- and the attrition showed in the biggest games.
"Receiver uncertainty looms, with Jauan Jennings set for free agency and Brandon Aiyuk missing in action. Brock Purdy still delivered elite efficiency, however, despite missing eight games with a turf toe injury: 58.3% of his third- and fourth-down pass attempts combined produced first downs, the highest rate in the last 35 seasons, per CBS Sports Research."
A healthy Hill could provide an immediate spark to the 49ers offense. In 2023, he posted a career-high 1,799 receiving yards and 13 touchdowns. He has surpassed 1,183 receiving yards in six of his 10 NFL seasons, including four of the past six.
The question, of course, is how much of that explosiveness returns after such a significant injury. Additionally, Hill will turn 32 years old next month.
Podell also noted that San Francisco enters the offseason with $37.5 million in effective cap space—the 10th-most in the NFL—giving the 49ers some financial flexibility.
"Hill fits the team's win-now window with Christian McCaffrey still producing and Trent Williams still chasing a title," Podell added. "Hill played for a Shanahan acolyte in Mike McDaniel. In San Francisco, he'd play for the architect of the offensive system that helped him soar in Miami."
Hill is a six-time All-Pro and eight-time Pro Bowl selection who was part of the Kansas City Chiefs' Super Bowl LIV championship team. Once healthy, he could represent a player who could help the 49ers remain firmly in the Super Bowl conversation. Of course, there would be no shortage of risks with such a signing.
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