Examining Why the Dolphins Turned Down Massive Offer for Waddle

The Miami Dolphins were involved in trade discussions regarding Waddle and De'Von Achane, among others

Miami Dolphins wide receiver Jaylen Waddle (17) scores a touchdown against the Atlanta Falcons in the third quarter at Mercedes-Benz Stadium. | Brett Davis-Imagn Images

We're now close to a week after the arrival of the NFL trade deadline, and details are starting to come out about specific trade discussion details.

And there have been a couple of juicy revelations regarding the Miami Dolphins.

They involved the team's two most dynamic playmakers on the active roster — because Tyreek Hill otherwise would have been that guy — running back De'Von Achane and wide receiver Jaylen Waddle.

Because the Dolphins are 2-7 and there's uncertainty regarding the future of head coach Mike McDaniel, it made sense that teams would reach out to interim GM Champ Kelly to see if they could pry front-line players away from Miami by offering draft picks by what could be a roster overhaul.

It's what the Buffalo Bills tried to do in making a pretty significant offer for the services of Waddle, with NFL Network's Tom Pelissero reporting Sunday morning they offered Miami a first-round pick in 2027 and a third-round pick in 2026 but the Dolphins declined because they wanted a first-round pick in the next draft.

As for Achane, NFL Network's Ian Rapoport reported Saturday that the Dolphins' asking price included a second-round pick plus other considerations.

In the end, the Dolphins hung on to each other.

WHAT THE NON-TRADES INDICATED

As we suggested after the trade deadline, the Dolphins not making a single move beyond the Monday trade of Jaelan Phillips to the Philadelphia Eagles seems a pretty clear indication the organization does not see itself in full rebuild mode.

Yet.

That's the key word there.

The Dolphins have eight games remaining in the 2025 regular season and if they win some games down the stretch and avoid embarrassing performances like the ones they had against the Indianapolis Colts, Cleveland Browns and to a lesser degree the Baltimore Ravens, it's entirely possible they will look to add to the roster next offseason as opposed to tearing it down.

How many win would that require?

That's a question only owner Stephen Ross could answer, but his history suggests he'd prefer avoiding a complete teardown, particularly with a quarterback who's guaranteed $54 million in 2026.

Is it the right approach?

That's an entirely different discussion for another time.

But the fact the Dolphins turned down a first and a third simply because the first-round pick came a year later tells you the complete overhaul isn't a done deal.

If Miami definitely was headed down that path, it's hard to believe they would have turned down that kind of return for Waddle, particularly since 2027 is when his cap number takes a significant jump and his contract probably will need to be addressed one way or another.

Another factor is that a 1 and 3 for a high-end wide receiver is a very good return these days, even if it is diminished by the fact you have to wait a year for that first-rounder.

MOVING WADDLE AND ACHANE A SPRING PROJECT?

Given how productive Achane has been as the team's MVP so far this season, maybe it would seem insane to think the Dolphins would even entertain offers for him, but his situation is complicated by his contract status.

After he completes his third NFL season, almost assuredly after the Dolphins face the New England Patriots at Gillette Stadium on January 4, Achane will become eligible for a contract extension.

We're going to go out on a limb here and predict Achane's agent will be on the phone with the Dolphins looking for that extension, and the question of how much to pay running backs always is tricky.

This is why the idea of the Dolphins revisiting the idea of trading Waddle and/or Achane in the offseason certainly can't be dismissed if the end of the season doesn't go well.

What the Dolphins did at the trade deadline wasn't necessarily dismiss the idea of a complete rebuild but maybe merely give themselves more time to decide it's the right course of action.

It's why the Dolphins didn't take what they could get for players like Bradley Chubb, who was reportedly headed to the San Francisco 49ers, Zach Sieler or others who wouldn't fit into the picture of a rebuild.

But outside of veterans who will become unrestricted free agents next offseason, such as Rasul Douglas, there still could be a lot of veterans on the move when the 2026 trading period opens at the start of the league year in mid-March.