Week 5 Waiver Wire Watch: Tyreek Hill Becomes a Priority Add with Chiefs Injuries to Rashee Rice & Tyquan Thornton

Free agent WR Tyreek Hill is reportedly negotiating with teams (including the Chiefs), and is positioned to become a priority Week 5 Waiver Wire target.

Sep 18, 2025; Orchard Park, New York, USA; Miami Dolphins wide receiver Tyreek Hill (10) scores a touchdown against the Buffalo Bills in the fourth quarter at Highmark Stadium. Mandatory Credit: Gregory Fisher-Imagn Images | IMAGN IMAGES via Reuters Connect

Injury Updates on Rashee Rice and Tyquan Thornton

The Kansas City Chiefs wide receiver room suffered two injuries during their win over the Las Vegas Raiders that may dovetail nicely with the latest free agency news on Tyreek Hill.

Tyquan Thornton is set to miss time (and potentially the rest of the season) with a dislocated ankle, while Rashee Rice left the Week 4 win with a hamstring issue. The news on Rice could be less concerning as the Chiefs will now head into their bye week and give Rice some time to recover for Week 6. Fantasy managers can safely drop Thornton from their rosters, while managers with Rice need to move him to their bench for his bye week -- and potentially beyond. However, this injury news also opens the door for a reunion with an old friend.

Even before the injuries to Tyquan Thornton and Rashee Rice, the Chiefs already had shown interest in signing free agent WR Tyreek Hill. Following Sunday's game, a team source said “we've remained in contact” with Hill.

Story via @ByNateTaylor:https://t.co/BLyt0EBPcJ

— Adam Schefter (@AdamSchefter) October 5, 2026

Tyreek Hill Free Agency Update

Tyreek Hill has been rehabbing a torn ACL that caused him to miss most of the 2025 season (and start of the 2026 season), but the former All-Pro has been dropping social media clues that he's getting closer to returning -- and has hinted that his new location will be a cold-weather city.

Developing: Tyreek Hill’s agent Drew Rosenhaus said he plans to begin negotiating a deal for his veteran wide receiver with multiple teams today.

One of those teams is the Chiefs, who have maintained contact with Hill.

“I would anticipate Tyreek potentially signing with a team… pic.twitter.com/RBn7ju28Ku

— Adam Schefter (@AdamSchefter) October 5, 2026

We took a look at some potential destinations for Hill (and the ensuing fantasy football ripple effects in those locations) last week, but the latest news sounds like a reunion with the Chiefs is the most likely scenario. What would such a move mean for Hill's fantasy value, and that of the rest of the Kansas City offense?

The Fantasy Football Fallout

While it would likely take Hill some time to get back into game shape, it wouldn't be a complete shock to see him back on the field for Week 6 if he signs with the Chiefs this week.

Regardless of where he signs, Hill should be a priority Week 5 waiver wire target for fantasy managers. He doesn't have the same elite WR1 upside he used to, but he's still just 32 years old and has looked explosive in the various rehab videos he's shared to his social media accounts.

If Hill does sign with the Chiefs, he'll be reunited with the same trio (head coach Andy Reid, offensive coordinator Eric Bieniemy, and quarterback Patrick Mahomes) that helped make him a star when he was in Kansas City. With Thornton now sidelined, Hill would step in alongside Rice (when healthy), Travis Kelce, and Xavier Worthy as the Chiefs try to find their first 1,000 yard wideout since they traded him. Kelce (in 2022) has been the team's only player to post a 1,000 yard receiving season since Hill left, so there's an obvious void in the Chiefs offense for Hill to potentially fill.

While Hill wouldn't immediately become a fantasy WR1 in Kansas City, he would likely push for WR2 numbers and become a weekly fantasy starter. He'd also immediately raise the fantasy floor for Patrick Mahomes to become more of a weekly QB1 (as opposed to more of a high-end QB2 right now), while also boosting the fantasy value of Kelce as he'd open up more underneath routes for the veteran tight end.

Running back Kenneth Walker's fantasy value can't get much higher than it already is, but a Hill signing would only help the Chiefs' prized offseason signing. While Worthy and Rice would both see their fantasy value take a bit of a hit as Hill would decrease their target share, neither would see their stock crater completely.

Keep an eye on our updates for the latest on Hill while making sure you put in a free agency bid for him on this week's waiver wire. He could be a mid-season fantasy football difference-maker.