The Denver Broncos' offseason is no longer muted.
The Broncos are acquiring standout wide receiver Jaylen Waddle in a blockbuster deal that sends three draft picks to the Miami Dolphins, including a first-rounder, two people with knowledge of the deal told The Associated Press on Tuesday.
Both spoke on condition of anonymity because the deal hasn’t been announced. The Dolphins will receive the 30th-overall pick in next month’s NFL draft along with picks in the third and fourth rounds. Denver will get Miami’s fourth-rounder along with Waddle.
The Broncos were the only team not to sign a free agent outside of retaining their own players before making this deal.
Waddle gives Bo Nix another main playmaker along with Courtland Sutton, boosting a passing offense that finished 11th in the NFL last season.
Waddle's arrival will give the Broncos a bona fide top wide receiving duo for the first time since the late Demaryius Thomas and Emmanuel Sanders, who helped propel Denver to a Super Bowl championship a decade ago.
The Broncos were the AFC's No. 1 seed last season but lost to New England in the snowy AFC championship game without Nix, who broke his ankle in a game against Buffalo in the divisional round.
Denver's defense was one of the league's best and produced an NFL-high and franchise-record 68 sacks, led by Nik Bonitto's 14. The Broncos' offense was another story, often sputtering until Nix's fourth-quarter heroics. Denver won a dozen one-score games in 2025 and had 10 comebacks during an 11-game winning streak.
Nix has gone 25-11 in his two seasons, including the playoffs. But he's done it largely without a true No. 1 receiver or top-tier tight end. Denver's offense also lacked a playmaker in the backfield after J.K. Dobbins suffered what turned out to be a season-ending foot injury in mid-November.
Waddle, a first-round pick in 2021, had three straight 1,000-yard receiving seasons to begin his career but hasn’t reached that total since 2023.
The 27-year-old Waddle has averaged 81 receptions, 1,098 yards receiving and six touchdowns over his five-year career. He had a career-high 104 catches as a rookie and had 1,356 yards receiving in 2022, when he led the NFL with 18.1 yards per catch.
Overall, Waddle has 373 receptions for 5,039 yards and 26 TDs.
The rebuilding Dolphins previously released five-time All-Pro wideout Tyreek Hill and quarterback Tua Tagovailoa. They fired coach Mike McDaniel after going 7-10 last season and hired Jeff Hafley to replace him.
Miami invested $45 million guaranteed in Malik Willis to replace Tagovailoa.
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