Breaking Down Jaylen Waddle's Broncos Future—Burden of Mile High Expectations

The acquisition of wide receiver Jaylen Waddle from the Miami Dolphins was by far the biggest move the Denver Broncos made this offseason. The hope is that Waddle will provide the Broncos with a receiver who brings a more consistent presence, plays to Bo Nix's strengths as a passer, and can draw attention away from Courtland Sutton.

For the 2026 season, the Broncos certainly hope Waddle can be an important part of the offense, perhaps taking that offense to the next level. For the long term, though, what are the Broncos' commitments to him?

Let's look at Waddle's contract and see what the future could potentially hold for him after the 2026 season.

Contract Status

Waddle originally signed a three-year extension with the Dolphins back in 2024, when the 2021 first-round pick had two years left on his rookie contract. When the Broncos acquired him, he was under contract through 2028.

For 2026, Waddle was due an option bonus of $15.4 million, which the Broncos exercised. He is also due a $1.215 million base salary, a $510K per-game roster bonus, and a $100K workout bonus. All that money is fully guaranteed.

For 2027, Waddle is due a base salary of about $23.4 million with a $510K per-game roster bonus and a $100K workout bonus. Of that money, $15.2 million became fully guaranteed back in March, with another $8.2 million becoming fully guaranteed on March 15, 2027.

For 2028, Waddle is due a base salary of about $25.8 million, a $510K per-game roster bonus and a $100K workout bonus. None of that money is guaranteed, and there are two void years in 2029 and 2030 for cap purposes.

Waddle's cap charges are about $4.9 million for 2026, about $27.1 million for 2027, and about $30.5 million for 2028. If he isn't re-signed in 2029, the Broncos would incur a $6.2 million dead-money charge from the 2026 option bonus they exercised.

Future Outlook

Miami Dolphins wide receiver Jaylen Waddle (17) reacts as he enters the field before the game against the Arizona Cardinals. | Sam Navarro-Imagn Images

Obviously, Waddle will be with the Broncos this season. In 2027, the only way out of the deal is via a post-June 1 designation, but that's only going to happen if he is outright terrible this season.

Thus, the expectation is that Waddle should be with the Broncos in 2027. They will have to consider what happens in 2028, though, and could get out of the deal with a $9.3M dead-money charge and $21.2M in cap space freed, as long as they don't restructure his contract in 2027.

While the Broncos could theoretically restructure Waddle's contract in 2027, it may be better to wait and see how he continues to perform. The Broncos should be able to manage his cap charge for 2027 without having to restructure.

In 2028, the Broncos can then determine whether or not it makes sense to extend Waddle. That will depend on available cap space and what he seeks in an extension.

The Broncos are likely to let some currently high-paid veterans depart by 2028, which could help keep Waddle around. That would allow the Broncos the chance to keep him, assuming he continues to play at a high level.

The Takeaway

Broncos fans should expect Waddle to be part of the team for the next two seasons. However, the best move with his contract is to leave it alone, so the Broncos have flexibility to move on in 2028 if it comes to that.

And if Waddle does make a big impact, the Broncos can consider extending him by 2028. They could then find ways to keep his contract cap-friendly for a couple more seasons, but keep it as a deal that only commits them to him through, say, 2030 and then allows them to get out of the deal if necessary.

The draft capital the Broncos gave up in the trade means much will be expected of Waddle. Time will tell how he fares — and whether or not he sticks around for more than the remaining years of his contract.

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