The Miami Dolphins’ offseason fire sale isn’t over just yet.
Wide receiver Jaylen Waddle is the latest player leaving South Beach, with the former first-round pick reportedly heading to the Denver Broncos in a blockbuster trade on Tuesday.
ESPN’s Adam Schefter reported that Miami will receive Denver’s first- (No. 30), third- (No. 94) and fourth-round (No. 130) picks in April’s draft. Denver will get Waddle and Miami’s 2026 fourth-rounder (No. 111).
Waddle, 27, spent his first five seasons with the Dolphins after being selected sixth overall in 2021. He posted 1,000 receiving yards or more in his first three seasons before reaching 744 yards in 2024 and 910 yards in 2025.
Known for his speed, Waddle will bring another dimension to a Broncos team that lost in the AFC Championship Game after Bo Nix was injured one week earlier. The Alabama alum is entering the first season of a three-year contract in 2026, which could pay him $84.75 million through 2028.
The Dolphins have completely revamped their organization in the last few months, starting with the firing of general manager Chris Grier and head coach Mike McDaniel. Jon-Eric Sullivan (GM) and Jeff Hafley (HC) were hired in January, and the team subsequently cut ties with Tua Tagovailoa, Tyreek Hill, Minkah Fitzpatrick and others.
In free agency, the Dolphins signed quarterback Malik Willis and let a number of other players walk. Miami holds the No. 11 pick in next month’s draft.