In addition to draft compensation, the Dolphins have gained some salary cap relief by trading receiver Jaylen Waddle to the Broncos.
Denver will absorb and pay all of Waddle’s contract for 2026 and beyond, a source with knowledge of the situation confirmed to PFT.
Waddle was set to count $11.6 million against the cap for Miami in 2026 with a $1.215 million base salary and $16.631 million in guarantees.
Waddle is under contract through 2028. He is owed $15.203 million guaranteed in 2027 but has no guaranteed money in 2028.
The Broncos can re-work Waddle’s deal or sign him to an extension to reduce his cap number and keep him with the team going forward.
Waddle, 27, caught 64 passes for 910 yards with six touchdowns for the Dolphins in 2025. He has 373 receptions for 4,039 yards with 26 TDs since Miami selected him at No. 6 overall in 2021.