Overview
- Reported terms: Denver receives Jaylen Waddle and Miami’s 2026 fourth-rounder (No. 111); Miami gets the Broncos’ 2026 first-round pick (No. 30), plus third- (No. 94) and fourth-rounders (No. 130).
- The deal is reported as executed pending Waddle’s physical, and multiple outlets say the Broncos will assume the remainder of his contract, including his 2026 base salary.
- Waddle is expected to slot alongside Courtland Sutton atop Denver’s depth chart, adding a proven big‑play option for Bo Nix after a quiet start to free agency.
- For Miami, the move accelerates a rebuild under GM Jon‑Eric Sullivan and coach Jeff Hafley, boosting 2026 draft capital to two first-rounders (Nos. 11 and 30) and seven picks in the first three rounds.
- Coverage notes the timing aligns with a roughly $6.06 million option bonus on Waddle’s deal, and Miami accepts near‑term dead‑cap costs in exchange for long‑term roster flexibility.