This is what all-in looks like.
After reaching the AFC championship game for the first time in a decade, the Broncos are pushing to make their Super Bowl quest a reality in 2026. On Tuesday morning, Denver acquired star receiver Jaylen Waddle from the Dolphins for first-, third- and fourth-round picks in April’s draft.
Waddle, 27, has long been one of the top-20 receivers in the league. Drafted to Miami out of the University of Alabama as a 2021 first-round pick, he posted three consecutive 1,000-yard seasons to begin his career. Over the past two years, Waddle has posted 744 yards and 910 yards, respectively, with eight combined touchdowns, all while dealing with lackluster quarterback play from Tua Tagovailoa.
In Denver, Waddle will pair with Bo Nix and line up across from Courtland Sutton, forming a dynamic duo. Last year, Sutton caught 74 passes for 1,017 yards and seven touchdowns despite having no other real threat to help pull coverage from him. He’ll now have that in Waddle. Meanwhile, Nix has enjoyed success in his first two campaigns, reaching the playoffs both years while throwing for 7,706 yards and 54 touchdowns.
For Denver, the cost is steep. Waddle is a terrific player, but he’s also never been asked to be a top receiver on a contending team, usually having Tyreek Hill to help out. With the Broncos, Waddle will assume that role and responsibility as Denver tries to stay atop the AFC West while warding off the Chiefs and Chargers.
It’s understandable why general manager George Paton was so aggressive. He’s likely thinking that Nix has three years left on his rookie deal, and the defense, while tremendous, will be hard to keep together year after year. Waddle comes in signed through 2028 (the year before Nix’s potential extension would be taking effect) and he’ll gradually take more of the target share from Sutton, who is entering his age-30 season.
As for the Dolphins, this is an easy deal to make. Waddle is fabulous, but Miami is in a complete rebuild under first-year general manager Jon-Eric Sullivan and coach Jeff Hafley. Getting a pair of top-100 picks and a fourth-rounder should help that process along, giving the Dolphins future cap flexibility while also gaining draft capital. And, of course, Miami is likely going to have a very high draft pick in 2027, when a generational quarterback class becomes available.
All told, this was an easy trade for Miami and an understandable one for Denver.
Broncos grade: C+
Dolphins grade: A-
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This article was originally published on www.si.com as Jaylen Waddle Trade Grades: Broncos Pay Premium for Star Receiver.
