Overview

• The Dolphins are sending a conditional 2026 sixth-round pick to the Giants in exchange for Waller and a conditional 2027 seventh-round pick.
• Waller will end his 13-month retirement to join Miami after announcing health concerns in November 2023 prompted his June 2024 exit.
• The trade follows Monday’s deal that sent Pro Bowl tight end Jonnu Smith and cornerback Jalen Ramsey to the Steelers for safety Minkah Fitzpatrick, creating an immediate need at tight end.
• A two-time 1,000-yard receiver in 2019–20 with the Raiders, Waller battled hamstring injuries that limited him to 12 games, 52 catches and one touchdown for the Giants in 2023.
• Miami is leveraging late-round draft assets and an incentive-laden, short-term contract to balance Waller’s high ceiling against his recent health and durability risks.