Jaylen Waddle contract details: Where Dolphins star ranks among NFL's highest-paid WRs after extension

Jacob Camenker

Jaylen Waddle contract details: Where Dolphins star ranks among NFL's highest-paid WRs after extension image

Jaylen Waddle enjoyed a productive start to his career with the Dolphins. Miami rewarded him for his performance Thursday.

Waddle signed a contract extension to keep him with the Dolphins for three extra seasons. He had two seasons left on his rookie contract, so he will remain in Miami over the next five years.

The Alabama product was first eligible to sign an extension with the Dolphins during this offseason. The No. 6 pick in the 2021 NFL Draft inked the contract amid a burgeoning receiver market that could soon explode as numerous top, young pass-catchers become extension-eligible.

Here's what to know about Waddle's new contract and where it places him among the NFL's highest-paid wide receivers.

MORE: Inside the NFL's highest-paid WR contracts in 2024

Jaylen Waddle contract details

Waddle signed a three-year extension with the Dolphins worth up to $84.5 million, per ESPN's Adam Schefter. The contract comes with $76 million guaranteed — nearly 90 percent of the contract — and will keep him in Miami through his age-30 season.

Waddle's contract places him among the five highest-paid receivers in average annual value (AAV) and top 10 in total contract value.

NFL's highest-paid WRs

Below is a look at the 10 highest-paid NFL wide receivers in AAV, per OverTheCap.com.

RankPlayerTeamAAV
1A.J. BrownEagles$32 million
2Amon-Ra St. BrownLions$30.002 million
3Tyreek HillDolphins$30 million
4Jaylen WaddleDolphins$28.17 million
5Davante AdamsRaiders$28 million
6Cooper KuppRams$26.7 million
7DeVonta SmithEagles$25 million
8Nico CollinsTexans$24.25 million
9DK MetcalfSeahawks$24 million
10Deebo Samuel49ers$23.85 million

Here are the highest-paid wide receivers in total contract value:

RankPlayerTeamTotal contract
1Davante AdamsRaiders$140 million
2Amon-Ra St. BrownLions$120.01 million
3Tyreek HillDolphins$120 million
4Amari CooperBrowns$100 million
5A.J. BrownEagles$96 million
6Calvin RidleyTitans$92 million
7Jaylen WaddleDolphins$84.5 million
8Cooper KuppRams$80.1 million
 Keenan AllenBears$80.1 million
10DeVonta SmithEagles$75 million
 Christian KirkJaguars$72 million

Waddle's deal may seem costly, but in reality, his price relative to other NFL receivers figures to decrease soon. Why? Because players like Justin Jefferson, CeeDee Lamb nd Ja'Marr Chase are seeking new deals during the 2024 offseason and should soon see nine-figure contracts from their respective clubs.

That will certainly move Waddle's total contract value down from its present No. 7 rank while his AAV also seems destined to drop out of the top five.

That makes this agreement a smart one for the Dolphins. They now have Tua Tagovailoa's top two weapons — Waddle and Tyreek Hill — locked up long-term. The $204.5 million combined to retain them is costly, but given that both topped 1,000 receiving yards in each of Mike McDaniel's first two seasons with the Dolphins, it could be worth it.

And once some of the NFL's other top receivers agree to new contracts, both deals could end up looking like solid values.

MORE: Projecting how Bryce Young, C.J. Stroud, more QBs will fare in second seasons

Jaylen Waddle stats

Below is a look at Waddle's stats from his first three seasons with the Dolphins. The No. 6 pick in the 2021 NFL Draft has never logged fewer than 1,014 yards in a season.

YearGamesReceptionsYardsTDsYard/reception
2021161041,01569.8
202217751,356818.1
202314721,014414.1

Waddle's 18.1 yards per reception were the most in the NFL during the 2022 season. His deep speed is a major asset, and he and Hill are part of the engine that makes Miami the fastest team in the NFL.

Jacob Camenker

Jacob Camenker Photo

Jacob Camenker first joined The Sporting News as a fantasy football intern in 2018 after his graduation from UMass. He became a full-time employee with TSN in 2021 and now serves as a senior content producer with a particular focus on the NFL. Jacob worked at NBC Sports Boston as a content producer from 2019 to 2021. He is an avid fan of the NFL Draft and ranked 10th in FantasyPros’ Mock Draft Accuracy metric in both 2021 and 2022.