Broncos Trade for Jaylen Waddle in Blockbuster Deal With Dolphins

The Denver Broncos made a major move to bolster their offense Tuesday, acquiring wide receiver Jaylen Waddle from the Miami Dolphins, according to multiple reports.

Per ESPN, Denver will receive Waddle and Miami’s fourth-round pick (No. 111 overall), while sending its first-round selection (No. 30 overall) along with third- and fourth-round picks (Nos. 94 and 130) to the Dolphins.

The deal marks a significant shift for the Broncos, who had previously focused on retaining their own players during the early stages of free agency. It also signals a clear effort by coach Sean Payton and general manager George Paton to add explosive playmaking to an offense that struggled with consistency last season.

Waddle, 27, brings elite speed and big-play ability to Denver. He finished the 2025 season with 64 receptions for 910 yards and six touchdowns, production that would have ranked near the top of the Broncos’ receiving group. Since entering the league in 2021, he ranks among the top wide receivers in total receiving yards and yards after the catch.

A former first-round pick out of Alabama, Waddle made an immediate impact in the NFL, setting a rookie record with 104 receptions. He followed that with back-to-back 1,000-yard seasons, including a career-high 1,356 yards in 2022. Though his production dipped slightly over the past two seasons, he remains one of the league’s most dynamic offensive threats.

Denver’s need for that type of player was evident. The Broncos ranked near the bottom of the league in three-and-out drives last season, with 25% of their possessions ending without a first down. While Courtland Sutton provided a vertical presence, the offense lacked consistent explosiveness beyond him.

The trade is the second major offensive change for Denver this offseason. Payton recently handed playcalling duties to offensive coordinator Davis Webb following a disappointing finish in the AFC Championship Game, where the Broncos’ offense stalled in the second half.

Despite finishing 14-3 and earning the AFC’s top seed, Denver’s offense ranked 14th in scoring at 23.6 points per game. The team’s defense carried much of the load, finishing among the league’s best in multiple categories.

For Miami, the move continues a dramatic roster overhaul. The Dolphins have parted ways with several high-profile players this offseason, including quarterback Tua Tagovailoa and wide receiver Tyreek Hill, as the franchise pivots toward a rebuild.

By acquiring additional draft capital, Miami now holds two first-round picks (Nos. 11 and 30) and a total of 11 selections in the upcoming draft, positioning the team to reshape its roster for the future.

Waddle is under contract through 2028 and is due $41.2 million over the next two seasons. The Broncos are expected to assume the remainder of his deal, though the contract could be restructured.

He joins a Denver receiving corps that includes Sutton, Marvin Mims Jr., Troy Franklin and others, giving the Broncos a potentially more dynamic and versatile passing attack heading into the 2026 season.