The Denver Broncos made a splash after a quiet start to free agency by trading for Miami Dolphins wide receiver Jaylen Waddle, per CBS Sports NFL insider Jonathan Jones.
Denver will send its first-round pick in the 2026 NFL Draft (No. 30 overall), along with third- and fourth-round picks (Nos. 94 and 130) to Miami in exchange for Waddle and a fourth-round pick (No. 111), according to multiple reports.
The former No. 6 overall draft pick is among the fastest players — not just wide receivers — in the NFL and should immediately upgrade a Denver passing game that was inconsistent during the 2025 season. Waddle joins a wide receiver room that includes Courtland Sutton, Pat Bryant, Troy Franklin and Marvin Mims.
In his five-year career, Waddle has 373 catches for 5,039 yards and 26 scores. The speedster caught 64 passes for 910 yards and six touchdowns during the 2025 season, bouncing back from a subpar 2024 campaign. He should be heading into his physical prime at 27 years old and will be an intriguing new piece for Sean Payton’s offense in Denver.
The Dolphins, meanwhile, continue their offseason makeover that has included cutting ties with high-profile players like Tua Tagovailoa, Tyreek Hill, Bradley Chubb and more as they look to rebuild their roster over the next few years.
Why the Broncos did it
Denver clearly sees an opening in the AFC and is looking to strike in 2026. The Broncos went to the AFC title game in 2025, losing to the New England Patriots with backup quarterback Jarrett Stidham under center in a game that was eventually engulfed by heavy snow. Now, they look to upgrade the offense in conjunction with its Super Bowl-caliber defense.
The Broncos paid a premium to acquire Waddle, giving up a first, a third and a fourth-round swap to bring him in. It’s a steep price. On the surface, it might not be worth it. But Denver clearly expects Waddle to take the offense to another level, and the Broncos overall, further in the playoffs.
Given the draft capital outlay the Broncos surrendered to acquire Waddle, it’s reasonable to expect him to become a co-No. 1 option for Bo Nix alongside Sutton, if not the No. 1 target outright. That’ll be a change for the Broncos, who have tended to rotate their Nos. 2 through 4 wide receivers pretty heavily under Payton over the last few years. Waddle is a good fit for the offense, though, especially considering his skill set in the context of the other receivers the Broncos have on hand.
Waddle brings a speed element to the proceedings that the Broncos didn’t necessarily have with their top three wide receivers in Sutton, Franklin and Bryant. Franklin has speed but wasn’t utilized in a way that allowed him to flaunt it. Sutton and Bryant, though, are on the bigger and more physical end of the spectrum. Sean Payton’s offense tends to be built around screen passes and the deep ball, and Waddle is a strong option in both of those phases of the game.
Waddle’s 54 receptions on screen passes rank 13th among wide receivers since he entered the league, per Tru Media. His 53 receptions on throws beyond 15 air yards rank 29th. Those numbers come despite the fact that he spent four of those five years playing alongside Tyreek Hill, who ranked fifth in screen receptions and second in deep receptions during that time, with Waddle working as a clear secondary option in the passing game.
If Waddle can work as a short-area threat and burn defenses with the deep ball, it will afford the other pass-catchers more space to do their work in the intermediate areas of the field. That type of synergy is necessary for offenses to reach their greatest heights.
Why the Dolphins did it
Miami is clearly entering a full-on rebuild phase under new general manager Jon-Eric Sullivan and new coach Jeff Hafley. The Dolphins got a haul in this trade and now own two first-rounders and an incredible seven picks in the top 100 of the upcoming NFL Draft. They have the potential to significantly reshape their roster for the next few years if they land on the right prospects.
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Miami will also clearly be in the tank wars that are expected to ensue during the 2026 season as next year’s NFL Draft is a loaded one with quarterback prospects like Arch Manning, Dante Moore and more leading the way. College superstars like Jeremiah Smith, Colin Simmons, Dylan Stewart and more will also turn pro. The Dolphins are extremely likely to pick toward the top of the draft.
The timing of Miami’s rebuild is interesting considering that the Dolphins just spent money to bring in Malik Willis as their quarterback. The Dolphins tore down much of the infrastructure that would have allowed Willis to succeed in his first year under center in Miami, and now will need to build it back up in order to make sure that he’s in position for success. Luckily for them, they are going to have plenty of resources over the next few years to do just that.
NFL Draft impact
By NFL Draft analyst Josh Edwards
Denver has sought an explosive playmaker, and so I had given them Texas A&M wide receiver KC Concepcion in my most recent mock draft. They are obviously not going to be in the mix for any of the top receivers now, but Miami should be. The Broncos may still look to add another tight end at some point but otherwise, the offense is in good shape.
Miami has a bevy of needs and now a war chest of draft assets to fill them. Aside from quarterback post-Malik Willis signing and potentially running back, essentially every other position is on the table for the Dolphins as new head coach Jeff Hafley turns over the entire roster. Defensive line, edge rusher, offensive line and wide receiver are thought to be positions of strength where Denver had been scheduled to pick in the first round.
Edwards’ latest mock draft has the Dolphins selecting LSU cornerback Mansoor Delane at No. 11 and Texas A&M wide receiver KC Concepcion at No. 30.