BREAKING: Jaylen Waddle and the Miami Dolphins agree on a three-year contract extension

The Miami Dolphins and star receiver Jaylen Waddle have agreed to terms on a three-year extension worth $84.75 million with $76 million guaranteed.

Waddle’s annual salary of $28.25 would make him the fourth highest-paid receiver in the NFL, trailing only A.J. Brown ($32 million), Amon-Ra St. Brown ($30 million), and his teammate Tyreek Hill ($30 million).

His $76 million total guaranteed money would rank him third at his position behind A.J. Brown ($84 million) and Amon-Ra St. Brown ($77 million). With salary conversions, his guaranteed salary of $56 million would rank fourth among receivers per Jason Fitzgerald at OTC (Over The Cap).

There’s no doubt that Waddle has earned the shiny new contract, posting three consecutive 1,000+ yard seasons, twenty total touchdowns, broke the rookie receptions record, and is projected to be one of the NFL’s top receivers for the foreseeable future.

Teams are throwing money at receivers in 2024 like they’re Oprah. You get $20+ million. You get $20+ million a year. Everyone gets $20+ million a year. Waddle is the latest recipient of this trend, and the Dolphins were smart to get this deal done now.

The Dolphins will have to wait until June 2nd when Xavien Howard’s money becomes available because their 2024 cap is all dried up, and it raises questions about the Dolphins future cap flexibility. Could Waddle’s extension affect Tua’s deal, or could this be a sign the Dolphins are looking toward a future without Tyreek Hill?

Either way, the Dolphins had to make this move because if they didn’t, it would cost them an arm and a leg next offseason. It’s a ton of money now, but like they say, every year that passes, the TV money goes up and up, and these contracts look better and better. With Waddle’s productivity, connection with Tua, and off-field maturity, this extension looks like a home run.

Let us know in the comments how you feel about Jaylen Waddle’s contract extension and how it might impact the team post-2024.