Jaylen Waddle trade grades: Broncos boost Bo Nix's offense, while Dolphins make it tougher on Malik Willis

When the Dolphins released Tyreek Hill and Tua Tagovailoa on the heels of firing offensive-minded coach Mike McDaniel, it was inevitable that Jaylen Waddle would be next.

Only this time, Miami was able to flip Waddle for some significant draft capital vs. putting him into the open market with nothing in return. Denver was the highest bidder with Waddle, who, unlike Hill and Tagovailoa, seems to have plenty to offer a dynamic starting offense.

The Broncos qualify as one of those dynamic offenses. Without Waddle, file the Dolphins as the team with the new NFL's worst receiving corps, not long after having its best:

MORE: Full grades for all 32 NFL teams in free agency

Jaylen Waddle trade details

Broncos get:

• WR Jaylen Waddle
• 2026 fourth-round draft pick (No. 111 overall)

Dolphins get:

• 2026 first-round pick (No. 30 overall)
• 2026 third-round pick (No. 94 overall)
• 2026 fourth-round pick (No. 130 overall)

Jaylen Waddle trade grades

Broncos grade: A

The Broncos needed some seasoned slot help and got their most reliable option since Jerry Jeudy played there to help Courtland Sutton, Troy Franklin and their otherwise quantity vs. quality" wide receiver corps.

Although Denver was well positioned for some good WR talent at No. 30 overall in the first round, the team felt more comfortable with much more experienced Waddle in their offense. With Davis Webb taking play-calling duties from Sean Payton and Bo Nix coming off an ankle injury, Webb now has a key short-area target to draw coverage attention and complement the field-stretching outside.

Waddle was in the mix for a lot of teams, but the Broncos got a little aggressive to make it happen as AFC championship contenders. A first and a third with a fourth upgrade is fair for how much impact Waddle can provide as the missing piece of their passing attack.

MORE: Why Broncos made deal to trade for Jaylen Waddle

Dolphins grade: C

Miami moving Waddle is no surprise, given the offseason has been cleaning house of their past passing game with McDaniel (now the Chargers' offensive coordinator). Waddle joins Tagovailoa (Falcons) and Hill (released injured free agent) in making his Irish exit from the Dolphins.

The Dolphins are rebooting their offense for Bobby Slowik, leaning even more toward a run-heavy attack with De'Von Achane and Ollie Gordon providing the 1-2 punch. Mobile new starting QB Malik Willis also figures to factor well into the rushing emphasis with a shaky receiving corps.

With the Dolphins also moving on from Nick Westbrook-Ikhine, the Dolphins' top three wide receivers are Malik Washington, former Cowboy Jalen Tolbert and former Ram Tutu Atwell.  With no Hill or Waddle, the wide receiver position must be addressed in the draft.

For now, it looks like, by dire necessity, Achane and tight end Greg Dulcich will need to be key short-to-intermediate targets for Willis in what might be an offense that runs more than 50 percent of the time after doing so at a 45.5 percent clip (9th in the league) last season.