Why the Waddle Trade Was a Big Winner for Dolphins

The Miami Dolphins roster transformation continued in a big way Tuesday with maybe new GM Jon-Eric Sullivan's biggest move yet.

The move came after Sullivan said he wasn't actively pursuing a trade involving Waddle — or running back De'Von Achane, for that matter — though he did say he would listen if teams called.

The Denver Broncos called, and made an offer too good for Sullivan to pass up.

The details of the trade that sent Waddle to Denver involved Miami getting the Broncos' first-round pick (30th overall) plus a third-round selection (the 90th overall) with a swap of fourth-round selections that will move the Dolphins from 111th overall to 130th.

So let's call it a 1 and a 3 for Waddle.

And let's call it a big win for the Dolphins.

WHY THE DOLPHINS DID WELL

Waddle has been a productive wide receiver since the Dolphins made him the sixth overall pick in the 2021 draft, with a list of accomplishments that includes breaking the NFL rookie record for catches in a season, leading the league in yards per reception and three 1,000-yard seasons, there can be no question of that.

But was he a difference-maker?

That's debatable.

And being able to get two prime picks for him at a time when the Dolphins are rebuilding and need to establish a roster foundation is big because picks in the first and third round are more valuable than Waddle right now.

And we haven't even touched yet on the financial aspect of this transaction.

Yes, the Dolphins are going to be taking yet another hit on their salary cap for 2026, adding $11.6 million to Waddle's cap number to a final total of $23.2 million.

But now the Dolphins won't have Waddle's $33 million on their books in 2027, and $33 million is quite honestly a little much.

Ultimately, how to view this trade comes down to how you view Waddle.

Is a front-line wide receiver?

Is it an insult to call him a great No. 2 wide receiver?

How much of his success of 2022 and 2023, easily his best two seasons, came because he was playing opposite Tyreek Hill and benefiting from all the attention Hill was drawing from opposing defenses.

Waddle supporters are very quick to point to the game against the New York Jets late in the 2023 season when Hill was out with an ankle injury and Waddle had eight catches for 114 yards, including a 60-yard touchdown that became famous because the "Hard Knocks" cameras had Mike McDaniel calling out a one-play drive before the snap was taken.

But what about last season?

Sure, Waddle had some good games immediately after Hill was knocked out for the season with that brutal knee injury, but he badly disappeared down the stretch.

In his final full games, Waddle totaled 240 receiving yards (an average of 48 yards per game) with one touchdown. Not good.

Of course, this came at a time when the Dolphins were focusing more on the running game and Tua Tagovailoa was struggling at quarterback, but the numbers remain the same.

And in his one season before Hill arrived on the scene, when he set the NFL rookie reception record, the number that jumps out was the 9.8-yard average, which is low for any wide receiver, let alone someone as fast as Waddle.

This isn't to bash Waddle, but to reinforce the idea that getting a 1 and a 3 for him was good work by the Dolphins, and getting rid of his cap considerations in a year that's about setting a foundation more than competing for the playoffs brought it to the great work level.

Yes, this indeed was an offer that Sullivan couldn't pass up.