New Miami Dolphins general manager Jon-Eric Sullivan now has a blockbuster trade under his belt in his first three months managing the team’s roster.
The Dolphins are sending standout wide receiver Jaylen Waddle to the Denver Broncos, according to multiple national reports Tuesday morning.
In return, Miami gets Denver’s first-round pick, at No. 30. The Dolphins are also netting an extra mid-round selection in the late April draft, acquiring third- and fourth-round picks from the Broncos while sending away their own fourth.
Waddle’s time with Miami comes to an end after five seasons in which he tallied 373 receptions, 5,039 yards and 26 touchdown catches. The No. 6 pick in the 2021 draft, he had 1,000-yard seasons in each of his first three campaigns before dipping below that mark the past two years.
The Dolphins are significantly overhauling their passing game in the first year under Sullivan and new coach Jeff Hafley.
They previously released quarterback Tua Tagovailoa, who has joined the Atlanta Falcons, and wide receiver Tyreek Hill. That trio formed one of the NFL’s most prolific passing offenses for a while, especially in 2023 when Tagovailoa lead the league in passing yards and Hill in receiving yards while Waddle went for 1,014 yards.
Heading into the 2024 season, Waddle signed a three-year, $84.75 million contract extension that locked him in through the 2028 season. A chunk of his 2027 salary became guaranteed Monday, the fifth day of the 2026 league year.
New Dolphins quarterback Malik Willis now won’t have Waddle as his top target in the passing offense, but Miami can use the first-round pick, among other early selections in the draft, to find a new, young pass-catcher.
In free agency last week, the Dolphins signed former Dallas Cowboys wide receiver Jalen Tolbert and Los Angeles Rams speedster Tutu Atwell, who is making a homecoming as a Miami Northwestern High grad.
Miami also returns slot receiver Malik Washington and can look for someone to emerge among Theo Wease Jr., Tahj Washington, A.J. Henning and Terrace Marshall Jr.
The Dolphins now have seven picks in the first three rounds after Tuesday’s trade, including two in the first and four in the third.
Tuesday’s deal is the second trade Sullivan pulls off since being hired in Miami from his role as vice president of player personnel with the Green Bay Packers. Last week, he sent safety Minkah Fitzpatrick to the division-rival New York Jets for a seventh-round pick.
This story will be updated.