The Denver Broncos are on a mission to discover their "secret sauce" for success as they navigate the complexities of free agency. The team, known for its aggressive moves in 2023, is gearing up for another pivotal offseason. With an increased salary cap room and a strategic focus on bolstering their roster, the Broncos aim to enhance their performance in the coming season. General Manager George Paton and Owner/CEO Greg Penner have outlined plans to leverage their financial flexibility while prioritizing key positions, particularly to support their promising second-year quarterback, Bo Nix.
The Broncos demonstrated their assertiveness in free agency last year by signing three players to contracts worth $45 million or more. Their top 10 deals in 2023 accounted for $59.75 million, with four re-signings of previous Broncos players. In contrast, the 2024 offseason saw top 10 deals amounting to $242.2 million, with only one player being re-signed. This shift indicates a strategic change in approach as the team seeks to balance youth with veteran experience.
"That's our goal this whole offseason, try to find that secret sauce," – Paton
Supporting quarterback Bo Nix is at the forefront of the Broncos' priorities. The team recognizes the need for additional resources to aid his development and drive offensive success. Despite an active free agency in 2023, the Broncos struggled to find consistency at the running back position, a gap they intend to address this year. Their efforts are compounded by the financial constraints of $34 million in dead cap money, including $32 million from Russell Wilson's release.
"We could've taken a less of a hit last year [for Wilson's dead money], but we wanted to take the [bigger] hit because we were going to go young. Sean emphasized that to the coaches." – Paton
Despite these challenges, the Broncos are poised to make impactful moves thanks to their increased salary cap space. Greg Penner has expressed optimism about the team's financial standing, which could allow for significant acquisitions if deemed necessary.
"Last year, we were more constrained. It was a measured approach and that served us well. As we go into this offseason, it's a different situation again," – Penner
The Broncos anticipate having at least $38 million to $40 million in cap space prior to any roster adjustments or potential restructurings. George Paton expects this figure to rise to approximately $52 million by the start of the new league year, providing the team with ample room for maneuvering in the market.
"We are going to have a little more cap space. We have a young nucleus and a great quarterback to build around…. If it is appropriate, we will be aggressive, but I'm not sure we'll need to do that." – Penner
The quest for veteran support will be crucial as the team looks to supplement its youthful core. The upcoming 2025 free agent class is not particularly strong, with many top players either aging or dealing with injuries. This reality underscores the importance of making astute decisions in the current cycle.
The NFL Combine next week presents an opportunity for the Broncos to begin navigating the free agent landscape effectively. The event will serve as a platform for evaluating potential signings and refining their strategy to elevate team performance.
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