On Tuesday morning, Jon-Eric Sullivan pulled a Chris Grier-esque type of trade. Let's just hope for the sake of Miami Dolphins' fans' mental stability that he knows what to do with the picks he received.
Miami sent Jaylen Waddle and a fourth-round pick to the Broncos for the 30th overall pick, a 3rd round pick, and the Broncos' late fourth-round selection. That, in and of itself, is an absolute steal for Waddle. But...it gets better.
According to a report from Miami Herald beat writer Barry Jackson, the Broncos are picking up the entire contract as well.
Per source, Broncos are paying all future money owed Waddle, including full salary this year. Trade has been executed pending his passing of a physical tomorrow. https://t.co/SE83yGcnJc
— Barry Jackson (@flasportsbuzz) March 17, 2026
Miami Dolphins avoid huge cap ramifications in Jaylen Waddle trade to Denver
The Dolphins could have been looking at a massive cap hit. With the recent release of Tua Tagovailoa and Bradley Chubb as post-June 1st releases, along with several other cuts and trades, the Dolphins are well over $150 million in dead cap space. That will reduce to just $54 million in 2027.
The Broncos had the cash to make the deal, and while they may be thumping their chests over the acquisition, the Dolphins have to be quite pleased getting bailed out of a contract that is only two years old. Add in the draft capital, and the Dolphins came out of this trade looking like they actually know what they are doing.
The Broncos' cap hit in 2026 won't be all that high, while the Dolphins will take on a bigger portion of the deal, but there was no real way to get out of it. The 2027 cap charges, however, have now vanished.
This is a huge win for Sullivan, who will see a huge turnaround in 2027 with nearly $160 million projected in cap space despite the Tagovialoa and Chubb dead money hits.
For all the work he is putting into the roster this year, he knows that the fastest way to rebuild the team is to take the shots out of the gate rather than spread them out. Stephen Ross needed to sign off on this line of thinking, and it is clear he has given Sullivan the approval to get rid of the contracts that are keeping Miami from moving forward.