It turns out the Dolphins actually got the offer they were looking for on Jaylen Waddle at the trade deadline — but they had to say no anyway

Not all trade offers are created equally…

Kyle Crabbs — NFL National Writer

Nov 9, 2025 10:25 AM EST

There should be little question left about who the Miami Dolphins perceive to be their franchise cornerstone player going into the 2026 offseason.

After some exploratory trade discussions and a stressful trade deadline this past week, the Dolphins held on to wide receiver Jaylen Waddle. Waddle, who is in the prime of his career, on a long-term extension, and has put up top-tier numbers since the loss of Tyreek Hill in Week 4, was the subject of a lot of rumors.

It has been reported that Miami was looking for a first-round pick and more for Waddle to move him. It turns out the Dolphins got the offer they were looking for, but they said no anyway. Rightfully so, too.

Miami’s best offer for WR Jaylen Waddle met their reported asking price — but it came from the Bills

“I am told the Bills had the highest offer for Jaylen Waddle. But Miami wanted a first-round pick in 2026, not 2027, as part of the package. Ultimately, Miami decided the Bills’ offer, which also included a third-round in 2026, was not enough to move their star wide receiver.”

— NFL Network insider Tom Pelissero

Loading up on picks feels like a necessary evil for the Dolphins amid a looming reset. But it should have set off every alarm bell in the minds of Miami’s decision-makers to consider that their biggest rival and the team that’s dominating the AFC East title picture was willing to push its chips in and pay big for Waddle.

Given the Bills’ success against Miami and the potential of adding Waddle to that team? It’d have been a double-whammy. The cost of doing business with Buffalo should be exponentially higher.

Buffalo’s success guarantees the assets coming back would be worse picks, too. If the New York Giants wanted to offer up their 2026 first-round pick for Waddle, that’d be one thing. The Giants have two wins, and that pick would likely land in the top-10 overall. Buffalo? That pick is almost assuredly going to fall between picks No. 25 and 32 in the order. It’s a huge difference.

That, plus the idea of seeing Waddle as a long-term answer for the team that’s dominated Miami as of the last six or seven years, would have made saying “yes” here a catastrophic decision — even if the Bills had ultimately conceded Miami’s ask for a 2026 first-rounder instead of having to wait until 2027.

Let’s count our blessings this was a near miss at the deadline, even if you’d have rather had the picks.

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