Miami Dolphins

Jaylen Waddle agrees to massive contract extension with Dolphins: Report

Waddle's reported three-year, $84.75 million extension includes $76 million guaranteed

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Jaylen Waddle can do his signature penguin waddle celebration all the way to the bank.

The Miami Dolphins wide receiver agreed to a three-year, $84.75 million contract extension with the team on Thursday, ESPN's Adam Schefter reported. The deal reportedly includes $76 million guaranteed.

The 25-year-old wideout has posted three straight 1,000-yard seasons since the Dolphins selected him with the sixth overall pick in the 2021 NFL Draft.

Waddle had a dip in production last season compared to his rookie and sophomore seasons, but he still hauled in 72 catches for 1,014 yards and four touchdowns across 14 games.

Waddle will play the fourth year of his rookie deal in 2024 at a $8.6 million cap hit. The Dolphins picked up his fifth-year option for 2025 last month, and his new extension will kick in starting with the 2026 season.

The $28.25 million average value over the three years in Waddle's extension would make him the fourth-highest-paid receiver in the NFL. Only the Philadelphia Eagles' A.J. Brown ($32 million), Detroit Lions' Amon-Ra St. Brown ($30,002,500) and Dolphins teammate Tyreek Hill ($30 million) rank higher, according to Spotrac.

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