Darren Waller’s comeback story with the Dolphins is compelling but fraught with risk. He hasn’t practiced or put on pads in over a year, yet he’s been lined up as the No. 1 tight end and secured a 53-man roster spot. Miami insists the plan is to manage him for 17 games, not to prove a point in preseason. Week 1 hip issues add doubt about his availability and role, while the offense continues to underuse tight ends. Fantasy players must weigh mega upside against the real-world throttling of his floor and durability.

Tyreek Hill’s elite production looms as the anchor, while the TE group around Waller is unsettled. Jonnu Smith’s trade to Pittsburgh and the emergence of Julian Hill and Tanner Conner suggest Miami isn’t banking on one veteran to carry the position. The coaching staff’s emphasis on growth beyond Darren mirrors a culture shift, raising questions about how quickly Waller can translate storybook recovery into steady fantasy production.

From a fantasy lens, Waller’s upside remains tantalizing if health returns and usage follows his peak years. But the risk is real: no practices, slow pads, and a system that hasn’t historically leaned on the tight end. In the near term, Hill and Conner could soak up targets, while Waller’s status dictates roster and bid decisions on waiver wires and early-season trades.