The Denver Broncos have acquired Jaylen Waddle from the Miami Dolphins in a major trade, sending multiple draft picks to Miami for the 27-year-old wide receiver. According to sources, Denver will send first-, third-, and fourth-round picks to the Dolphins, who will also send back a fourth-round selection. The trade represents a significant investment by the Broncos in their receiving corps.

Waddle, who caught 64 passes for 910 yards and six touchdowns last season, will join a Denver receiving group that includes Courtland Sutton and Troy Franklin. The Dolphins had paid much of Waddle's 2026 guarantee, leaving Denver responsible for approximately $5 million of his salary. His contract runs through 2028 with $41.2 million in cash due over the next two seasons.

The trade leaves Miami with two first-round picks (Nos. 11 and 30) in this year's draft, joining four other teams with multiple first-round selections. For Denver, acquiring Waddle represents an aggressive move after falling short in the AFC Championship Game. The Dolphins will turn to Tutu Atwell as their new top wideout.