New York Giants-Miami Dolphins trade for Darren Waller finalized

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The New York Giants will suit up for their final game of the 2025 season this Sunday when they host the Dallas Cowboys at MetLife Stadium in East Rutherford, New Jersey.

At the beginning of the season, the Giants were forced into and made a choice — the choice to trade tight end Darren Waller, who had come out of retirement, to the Miami Dolphins.

Terms of the trade were performance-based. If Waller were to haul in 50-plus receptions, the Giants would receive Miami’s sixth-round pick in the 2026 NFL draft while also retaining their 2027 seventh-round pick. If he fell short, New York would receive only Miami’s sixth-round pick in 2026.

On Friday, that deal became finalized when the Dolphins placed Waller on injured reserve (IR) with just 24 receptions to his credit.

Waller was previously with the Giants in 2023, which was his eighth season in the NFL. When the year ended, Waller announced his retirement from the league and did not play in 2024. He came out of retirement in 2025, though, and was dealt to Miami.

A former Pro Bowl selection in 2020, Waller spent time on IR this season when he suffered a pectoral injury in Week 7, but he was reactivated in late November. In his nine games with Miami, Waller recorded 24 receptions for 283 yards and six touchdowns.

General manager Joe Schoen was hoping for that extra asset in 2027, but he’ll have plenty of options to acquire additional assets with another top-10 pick in 2026.