The Miami Dolphins certainly have to be pleased with their decision to select Jaylen Waddle in the 2021 NFL Draft. Miami picked him up with the sixth overall pick between JaMarr Chase and Penei Sewell.
So far, it goes without saying that he's lived up to expectations. Waddle has cracked 1000 yards receiving each of his first three seasons. His best year came in 2022, when he totaled 75 catches for 1356 yards and 8 touchdowns with an NFL-best 18.1 yards per catch.
However, the question remains the same with Waddle as it does with most productive players approaching the later stages of their rookie deals: can you keep him in town? The short-term answer is extremely simple. The long-term one, not so much.
Because Waddle was drafted in the first round, the Dolphins hold a fifth-year team option on him for the 2025 season. They have until May 2 this year to exercise their fifth-year option on Waddle under league rules. According to OverTheCap.com, Waddle would be projected to earn a fully guaranteed salary of $15,591,000 based upon reaching playing time thresholds. His base salary for 2024 would also become guaranteed.
Given the current market price for high-end wide receivers, that's a relative bargain. It's hard to envision the Dolphins not pulling the trigger on that fifth-year option.
The bigger question is what contract extension the Dolphins choose to eventually offer, and if they can afford what a burgeoning wide receiver market will provide for a player of Waddle's caliber. After navigating significant cap issues earlier this offseason and still having to extend their other stars in Tua Tagovailoa - who could cost $50+ million per season - and Jevon Holland, does Miami give Waddle the number one (or close to number one) money it might take to keep him in town?
It's a question that general manager Chris Grier will eventually have to answer. But for now, the answer to the more immediate almost $16 million question is easy and obvious.
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