Broncos Acquire Jaylen Waddle in Blockbuster Trade With Dolphins
The Denver Broncos made their first big splash of the 2026 offseason by landing wide receiver Jaylen Waddle in a blockbuster in a trade with the Miami Dolphins, according to NFL Network’s Tom Pelissero and Ian Rapoport. To acquire Waddle, the Broncos sent over their first-, third-, and fourth-round picks in this year’s draft to the Dolphins. Denver also received Miami’s 2026 fourth-round pick in the swap.
Prior to trading for Waddle, the Broncos had been the only team that had not added a player from another team since free agency opened last week. Instead, they prioritized re-signing internal free agents. Denver had re-signed 17 of its 21 unrestricted, restricted, and exclusive rights free agents before adding Waddle to the mix.
One of the fastest players in the league, Waddle will provide a big-play element that the Broncos’ offense has sorely needed. 25% of Denver’s offensive drives ended in three-and-outs last season, which ranked 29th in the NFL. Waddle’s 910 receiving yards and six touchdown receptions last season would have been second to only Pro Bowler Courtland Sutton for Denver in 2025.
Waddle fits the Broncos’ offense in a couple of needed ways. Waddle thrives in running crossing routes and can create quick completions and significant yards after catch. He is also a consistent vertical threat.
The Dolphins selected Waddle with the sixth overall pick in the 2021 NFL Draft. During his rookie season, Waddle set the NFL rookie record for receptions with 104. He finished the 2022 campaign with a career-high 1,356 receiving yards and eight touchdowns before registering 1,014 receiving yards and four touchdown receptions in 2023.
In each of his first three seasons, Waddle tallied over 1,000 receiving yards. Since entering the league, Waddle has the 10th-most receiving yards in the NFL among wide receivers (5,039).
Waddle is due $41.2 million over the next two seasons. The Broncos will take on a $5 million salary cap hit for 2026, but are reportedly on the hook to pay the remainder of Waddle’s contract.
Denver’s defense was championship-caliber in 2025, but Broncos head coach Sean Payton had vocalized his frustrations about the offense at various times during the season. During the 2025 regular season, Denver’s offense was in the middle of the pack – 14th in scoring (23.6 points per game).
Waddle is set to join a Broncos receiving corps that includes Sutton, Troy Franklin, Pat Bryant, Marvin Mims Jr., Lil’Jordan Humphrey and Michael Bandy. Sutton and Waddle are poised to be the co-lead wideouts, while Franklin and Bryant are expected to be the third and fourth options, respectively.
