The Denver Broncos traded a 2026 first-round pick, a third-round pick, and a fourth-round pick to the Miami Dolphins for Jaylen Waddle and a 2026 fourth-round pick. When Denver acquired the talented receiver, they basically inherited a three-year, $68.6 million contract with $40.02 million guaranteed. Waddle is scheduled to earn a $1.215 million base salary, a $15.416 million option bonus due March 20, and $17.241 million in cash, while carrying a $17.241 million cap charge for 2026.
Also Read: Denver Broncos trade for Jaylen Waddle During 2026 NFL Offseason
If the Broncos do not restructure his contract by March 20, the entire $15.416 million option bonus would be on the books for 2026 rather than being prorated over the life of the contract, ultimately reducing his cap hit.
Denver Broncos restructure contract of new offensive weapon
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Dec 21, 2025; Miami Gardens, Florida, USA; Miami Dolphins wide receiver Jaylen Waddle (17) reacts during the second quarter against the Cincinnati Bengals at Hard Rock Stadium. Mandatory Credit: Sam Navarro-Imagn Images
According to Aaron Wilson of KPRC 2, the Broncos had already restructured Jaylen Waddle’s contract by converting his $15.416 million option bonus into a signing bonus before the due date, but the transaction was made official on Tuesday, adding two void years and creating $12.3 million in cap space. As a result, his base salary and total cash stay the same, but his cap hit drops to $4.908 million per Over The Cap.
Waddle’s $15.416 million prorated bonus will be evenly spread over five years at $3.083 million per year, increasing his future cap hits by the same amount.
#Broncos Jaylen Waddle converted $15.416M of option bonus to signing bonus for cap purposes, new salary $1.215M, salary cap $7.961M
— Aaron Wilson (@AaronWilson_NFL) March 24, 2026
Waddle will earn a $23.39 million base salary with an additional $8.19 million guaranteed if on the roster by March 15, plus the already $15.203 million guaranteed, along with $24 million in cash, and a $27.083 million cap hit with $27.536 million in dead cap in 2027. Lastly, he is scheduled to earn a $25.764 million base salary, a $1 million roster bonus due March 15, $27.374 million in cash, and a $30.457 million cap hit with $9.249 million dead cap in 2028.