Overview
- Reported terms: Denver receives Jaylen Waddle and Miami's 2026 fourth-round pick (No. 111), while the Dolphins get the Broncos' 2026 first-round pick (No. 30), third-round pick (No. 94) and fourth-round pick (No. 130).
- Multiple outlets report Denver will assume the remainder of Waddle's contract, with the timing linked to an option bonus of about $6.06 million due this week.
- Coverage indicates the deal was executed pending Waddle passing a physical, with no reports of complications as of the latest updates.
- Waddle, a three-time 1,000-yard receiver under contract through 2028, is expected to line up with Courtland Sutton as Bo Nix's primary options in Sean Payton's offense.
- Miami now holds two first-rounders and 11 total 2026 picks, with cap trackers projecting substantial dead money after a series of veteran departures.