NFL insider pulls back the curtain on Dolphins' asking price for Jaylen Waddle ahead of NFL trade deadline

The NFL trade deadline is approaching quickly, in just a matter of hours - 4:00 pm ET on Tuesday, to be more precise - and the Miami Dolphins have already shown themselves willing to move some of their best players. The team already shipped out Jaelan Phillips to the Philadelphia Eagles for a third-round pick.

It was previously stated by some outlets that WR Jaylen Waddle was not available via trade. According to CBS Sports NFL insider Jonathan Jones on Tuesday, that's not completely the case.

Jones says the Dolphins would consider moving Waddle, but the price is very high.

Dolphins would be looking for a first-round pick plus additional compensation as a conversation starter for Jaylen Waddle

It's not hard to figure out where the Dolphins are coming from. Although they are on the books for a big sum of money for Waddle through the 2028 season, with Waddle having an average annual value of $28.25 million, he's likely to be the team's top receiver with Tyreek Hill injured and his future with the team very much in question.

If they part with him, it will take the ability to get something in return that will allow them to find a suitable replacement in the draft, plus something extra. So, perhaps a first and a Day 2 pick might be necessary to consider prying him loose.

Like the Phillips deal, the amount of his remaining 2025 salary that the Dolphins would cover is also a factor in determining the compensation level. The Dolphins paid the vast majority of Phillips' remaining salary for 2025 to induce the Eagles to give up a third-round pick. If Miami wants to maximize its compensation and get a first plus another valuable pick, that could be in play again.

Giving up Waddle or someone like De'Von Achane would be the litmus test of whether the team truly is going in on a full rebuild in 2026 and beyond. And given what Jones is saying, interim GM Champ Kelly will make it worth their while if they go down that road.

We'll find out soon enough what Miami's thinking is for 2026 and beyond.