Jaylen Waddle is heading to Denver.
The Dolphins and Broncos have agreed to a trade that has Waddle, the Dolphins’ No. 1 wide receiver, going to Denver and a first-round pick going to Miami.
The full deal is reportedly Waddle and the Dolphins’ 2026 fourth-round pick for the Broncos’ 2026 first-round pick, as well as third-, and fourth-round picks going from Denver to Miami.
It’s a big move for the Broncos, who are building aggressively around quarterback Bo Nix in the hopes that they can advance even further than they did in 2025, when they were one of the NFL’s biggest regular-season surprises as the No. 1 seed in the AFC. Without Nix, the Broncos lost the AFC Championship Game, but with him they think they’re Super Bowl contenders, and they think Waddle can be a big piece of a championship-caliber team.
The 27-year-old Waddle has spent his entire career with the Dolphins, who selected him with the sixth overall pick in the 2021 NFL draft. He’s a big-time talent, but the Dolphins are rebuilding and have decided to go with cheaper players while stockpiling draft picks.
Now Denver hopes it’s putting the finishing touches on a Super Bowl roster.
On Monday morning, before the Chiefs traded for former Jets quarterback Justin Fields, someone was throwing spaghetti on the question of whether Kansas City was eyeing Russell Wilson as Patrick Mahomes insurance.
With the Chiefs off the board, what’s next for Wilson?
His days as a starting quarterback have ended. The only teams with a current vacancy at the top of the depth chart are the Cardinals and the Steelers. A Pittsburgh reunion is highly unlikely, even if Aaron Rodgers doesn’t return.
The Raiders possibly, maybe would be interested in a short-term bridge, if they aren’t comfortable with putting Fernando Mendoza on the field right away. Wilson may not be inclined to once again be the three-game starter before getting the tap.
Then again, Wilson may not have many choices. Which raises the question of whether he’s willing to take whatever he can get, making him one of the very rare former franchise quarterbacks who’ll accept being No. 2 or No. 3 on a depth chart.
Joe Flacco, who was twice the highest-paid quarterback in the NFL, is and has been willing to do that. Most of the guys who were once at or among the top of the market won’t accept anything other than a gift-wrapped starting job.
It can’t be easy for a guy who has spent so much time as “the guy” to accept becoming “just another guy.” But it happens to any pro football player who stays beyond the shelf life of his high-end skills.
In preparation for his current shot at free agency, Wilson parted ways with his longtime agent, Mark Rodgers, and hired David Mulugheta of Athletes First. During Wilson’s best years, it helped him to have an agent who had one and only one NFL client; the negotiations on Wilson’s contracts were never compromised by the agent’s broader business interests as to other players he represented.
Now, Wilson needs the help of someone who may have the league-wide goodwill to get Wilson a roster spot in exchange for keeping the agent happy as to the looming negotiations with a higher-profile client.
The mere fact that Wilson made the change represents an acknowledgement, conscious or not, that things have changed for him. He still has a high degree of confidence in his skills. Which isn’t surprising. For all NFL players, confidence that borders on delusion is a must.
At some point, however, the basis for the confidence evaporates. By the end of last season, Wilson had slipped behind Jameis Winston on the Giants’ depth chart.
Wilson’s third foray into free agency continues. Two years ago, he took the minimum from the Steelers because the Broncos owed him $39 million. This time around, the minimum salary of $1.3 million may be Wilson’s only option.
And the overriding question will be whether, after earning more than $315 million in his career, he’s willing to commit seven or more months for the smallest payday since signing his slotted four-year, $2.996 million deal as a third-round pick, 14 years ago.
One of Denver’s defensive backs is officially back in the fold.
The Broncos announced on Friday that corner Ja’Quan McMillian has signed his second-round restricted free-agent tender.
McMillian is now set to earn $5.767 million on his one-year deal with the club.
The Broncos and McMillian are still able to negotiate a long-term deal for the time being.
McMillian, 25, appeared in 17 games with three starts for Denver in 2025. He recorded 56 total tackles with five tackles for loss, nine passes defensed, two interceptions, two forced fumbles, and 4.0 sacks.
In his 51 career games with 16 starts, McMillian has tallied six interceptions, 24 passes defensed, and 7.0 sacks.
The Broncos did not tender running back Jaleel McLaughlin as a restricted free agent, allowing him to hit the open market this week.
But McLaughlin is not headed elsewhere.
Per Ian Rapoport of NFL Media, McLaughlin has agreed to re-sign with Denver on a one-year deal.
McLaughlin, 25, joined the Broncos as an undrafted free agent in 2023. He appeared in eight games for Denver in 2025, recording 187 yards rushing with a touchdown and four receptions for 27 yards.
In all, he’s appeared in 41 games with nine starts, recording 1,093 yards rushing with three TDs. He’s also caught 59 passes for 263 yards with four TDs.
With McLaughlin in tow, Denver will have all of its running backs from 2025 returning to the club in 2026 with J.K. Dobbins, RJ Harvey, and Tyler Badie.
Dre Greenlaw is headed back to the Bay.
After being released by the Broncos this week, Greenlaw has agreed to return to the 49ers on a one-year deal, according to Ian Rapoport of NFL Media.
The deal is reportedly worth $7.5 million.
Greenlaw, 28, was a fifth-round pick in the 2019 draft. He played his first six seasons with the 49ers, becoming a critical part of the club’s defense. He suffered a torn Achilles during Super Bowl LVIII — which San Francisco eventually lost to Kansas City in overtime — before coming back to play two games late in the season for the club in 2024.
After signing with the Broncos as a free agent last year, he played eight games with seven starts in 2025. He finished the year with 43 total tackles, two tackles for loss, and two quarterback hits along with an interception, a forced fumble, and one sack.
Greenlaw has appeared in 72 career games with 63 starts, recording four interceptions, 16 passes defensed, 4.5 sacks, and 20 tackles for loss.
