The Denver Broncos blockbuster trade for Jaylen Waddle has an impact on their salary cap sheet but not as much as you may think for 2026.
The Broncos will only be on the hook for a $4.9 million cap hit in their first year featuring the big-time pass-catcher, which ranks No. 45 in the NFL as of Tuesday between Jahan Dotson and Kendrick Bourne. The number does go up in time as there’s still a few years left on Waddle’s deal but part of the reason the Broncos paid such a high price, sending out their first-round pick (30), was to get Waddle on such a team-friendly number.
Waddle has spent the first five seasons of his career with the Dolphins, catching 373 passes for more than 5,000 yards and 26 touchdowns. In 2025 he had 64 catches for 910 yards and six touchdowns. He’s one of a number of standout wide receivers to be moved this offseason.
According to Spotrac, here’s how it breaks down.
Jaylen Waddle contract details
2026: $4.9M cap / $17M cash
2027: $27M cap / $24M cash
2028: $30M cap / $27M cash
2029: $6.1M cap (void year)
Guarantees: $17M in 2026, $15.2M in 2027 now + $8.2M vesting next March
Practical terms: 2-year, $41.2M deal
Jaylen Waddle's Broncos Cap Hits
2026: $4.9M ($17M cash)
2027: $27M ($24M cash)
2028: $30M ($27M cash)
2029: $6.1M (void)
Waddle is guaranteed $17M in 2026, and $15.2M in 2027 right now, with another $8.2M set to vest next March. It's a 2 year, $41.2M contract for practical… https://t.co/Afjutw2b8x
— Spotrac (@spotrac) March 17, 2026
Since the Fins are kicking in on Waddle’s cap hit, making it so cheap for the Broncos, Courtland Sutton’s is too. Before his new extension kicks in, the two will combine to count against the cap at just under $19 million. But that number goes up big time if the Broncos do not extend Waddle, with the two on the books for a combined $55.6 million in 2027.
Nix will have a standout pair of pass-catchers for the next year, with stolid options like Troy Franklin, Pat Bryant and Marvin Mims behind the two.