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Broncos Current Contracts Ranked Worst to Best Value

It's time to analyze the value of the Denver Broncos' biggest contracts on the books.

Bob Morris11 hours ago
The Denver Broncos have 17 players signed to veteran multi-year contracts. Some are just starting these multi-year contracts, while others are entering their final year on contracts signed a year or more ago.

When a team signs a veteran to a multi-year contract, that team wants to get the most value out of that deal. A player who underperforms his deal isn't giving the team good value, while a newly-signed player might be overpaid given his track record. However, some players may return more value than expected or accept a deal that has the potential to be great value.

I'm going to rank the 17 Broncos who are under a veteran multi-year deal. This list doesn't include players on a rookie contract (for which numbers are set based on the rookie pay scale, rather than negotiated), nor does it include veterans on a one-year deal (which are often low-risk because the team is only committed to the player for a single season).

Let's go over those veteran multi-year deals in order from worst-to-best value, given what the player has done thus far or could be expected to do.

Russell Wilson | QB | 5-Year, $245M Extension

Denver Broncos quarterback Russell Wilson (3) throws against the Los Angeles Rams during the first half at SoFi Stadium.
Gary A. Vasquez-USA TODAY Sports
At the time the Broncos traded for Wilson, it sure looked like they were getting the veteran quarterback who would bring stability to the franchise and lead the team back to the playoffs. However, not only did that not come to pass, but the Broncos gave Wilson a multi-year extension for which they have committed money to the QB through 2024.

To make matters worse, Wilson had his worst season as a pro in 2022. Perhaps he can turn things around in 2023, but until then, his deal stands as the Broncos' worst-value contract.

If Wilson does turn it around, his deal won't stand out as the worst.

Spoiler!

Randy Gregory | OLB | 5 Years, $70M

Denver Broncos linebacker Randy Gregory (5) during the second half against the Houston Texans at Empower Field at Mile High.
Ron Chenoy-USA TODAY Sports
This is another deal in which the Broncos took a chance, but it hasn't paid off. Gregory came with an injury history (along with missing games because of suspensions) but played well in 2021, his final season with the Dallas Cowboys.

The Broncos gambled that Gregory was worth a long-term commitment. However, while he was off to a good start in 2022, he went on to start just three games, and injuries limited him to just three more in a limited role.

Though Gregory has no guaranteed money after this season, the Broncos didn't get much in return last season. Gregory needs to be available and productive to justify the money he's getting.

Jarrett Stidham | QB | 2 Years, $10M

Las Vegas Raiders quarterback Jarrett Stidham (3) throws against the San Francisco 49ers during the second half at Allegiant Stadium.
Gary A. Vasquez-USA TODAY Sports
If you go back to my grades for free agent contracts, you know I am not a fan of this deal. Stidham has started just two games in his career but got money that put him among the top backup QBs.

While one can justify $5M per year for a backup who has a fair amount of starting experience, it's harder to do that for one who has seldom seen the field.

If Stidham is called into action at some point, he'll get his chance to prove himself. If he does, he would raise his value to the team. Until then, though, I am not convinced he should be getting paid as much as he is.

Garett Bolles | OT | 4 Years, $68M

Apr 25, 2022; Englewood, CO, USA; Denver Broncos tackle Garett Bolles (72) stretches during a Denver Broncos mini camp at UCHealth Training Center.
Ron Chenoy-USA TODAY Sports
At the time that Bolles signed his extension, it wasn't out of line compared to what other offensive tackles received. To his credit, he played well in 2021, even if it wasn't at the level he played in 2020 when he signed the extension.

But in 2022, Bolles missed the majority of the season because of a broken leg suffered in Week 5. He now has much to prove to demonstrate he's worth keeping in 2024, at which point he'll have no more guaranteed money.

To be fair to Bolles, though, he doesn't have the extensive injury history that Gregory has. If Bolles is recovered from his broken leg, he has the chance to prove he's worth his salary and stick around in 2024.

Mike McGlinchey | OT | 5 Years, $87.5M

Denver Broncos right tackle Mike McGlinchey.
Gabriel Christus/DenverBroncos.com
The Broncos made McGlinchey one of the highest-paid right tackles in the NFL when they added him in free agency earlier this year. Though they didn't re-set the market in doing so, the Broncos still paid McGlinchey a lot.

As I've mentioned before, the contract is a roll of the dice because the Broncos have committed themselves to McGlinchey for the next three seasons. Unlike with Bolles, the Broncos can't get out of this deal so easily should McGlinchey struggle.

Given the issues the Broncos have had at right tackle, all eyes are on McGlinchey to prove himself. But if he does, Broncos fans can breathe easier about this deal.

Tim Patrick | WR | 3 Years, $30M

Denver Broncos wide receiver Tim Patrick (81) catches a touchdown pass while defended by Kansas City Chiefs cornerback Bashaud Breeland (21) during the second half at Arrowhead Stadium.
Jay Biggerstaff-USA TODAY Sports
Patrick signed for less money than some may have expected when the Broncos extended him toward the end of the 2021 season. Unfortunately, he missed the 2022 season because of a torn ACL.

Patrick ranks lower on the list simply because of that injury. Patrick, though, can prove himself worthy of his deal if he stays healthy. To his credit, he has shown he can be productive, even without a top QB under center.

Given that Patrick isn't getting a lot of money, it won't take that much for him to live up to his deal. Therefore, if he stays healthy and plays well, his contract will be much better value for the Broncos.

Courtland Sutton | WR | 4 Years, $60M

Denver Broncos wide receivers Courtland Sutton and Tim Patrick.
Gabriel Christus/DenverBroncos.com
Sutton signed his extension toward the end of the 2021 season, taking less money than some may have expected. Like Patrick, Sutton showed he could be productive, even with less-than-ideal QB play.

Unfortunately, Sutton didn't play at a high level in 2022. Though he isn't being paid a massive amount of money, particularly when compared to other receivers, he didn't live up to the deal last season, either.

As with Patrick, though, Sutton has the chance to turn things around. If he does so, then this contract could look more like the value deal many pegged it as back in 2021.

Zach Allen | DL | 3 Years, $45.75M

Denver Broncos defensive end Zach Allen
Ben Swanson/DenverBroncos.com
This contract might best be described as 'the jury's still out.' Allen isn't getting paid a massive amount of money, but it remains to be seen how he'll live up to the deal.

He is coming off his best season as a pro, and he is familiar with Broncos defensive coordinator Vance Joseph. The question is how Allen will perform, not only in what may be a bigger role, but in replacing fan-favorite Dre'Mont Jones, who signed with the Seattle Seahawks.

Allen will get his chance to demonstrate he's worth the contract. If he plays better than he did in 2022, his contract could become one of the better values for the Broncos.

Justin Simmons | S | 4 Years, $61M

Jan 1, 2023; Kansas City, Missouri, USA; Denver Broncos safety Justin Simmons (31) celebrates after an interception during the first half against the Kansas City Chiefs at GEHA Field at Arrowhead Stadium.
Jay Biggerstaff-USA TODAY Sports
Simmons has been one of the more reliable, productive players the Broncos have had in recent seasons. While he's had slow starts, he's played better as the season progresses.

Simmons was the highest-paid safety in the NFL when he signed this deal, but it has since been surpassed by several others. Still, his contract ranks among the highest at his position.

In terms of value, it's a contract that falls right in the middle for the Broncos. It's not great value, but it's not bad value, either. Mostly, it's a contract that should probably have been expected for him, given the way the safety market had gone at the time he signed the deal.

D.J. Jones | DT | 3 Years, $30M

Denver Broncos defensive tackle D.J. Jones
Ben Swanson/DenverBroncos.com
When the Broncos signed Jones to this contract back in 2022, I was a bit surprised. It was a significant amount of money to pay for a defensive lineman who is known more for run defense than rushing the passer.

Jones did have a quality 2022 season, but was it one that lived up to the contract? That depends on how much you value run defense versus pass rushing. He did well with run defense, but as for pass rushing, he was average, just as he's been in the past.

I don't consider the contract a bad one, but it's still a slight overpay. However, I recognize that Jones played well for the most part, so I can't penalize the deal too much.

Mike Purcell | DL | 3 Years, $11.5M

Denver Broncos defensive lineman Mike Purcell (98) during mini camp drills at the UCHealth Training Center.
Ron Chenoy-USA TODAY Sports
This is an example of a 'you get what you pay for' deal. Purcell signed for a reasonable sum back in 2020 and has served the Broncos well in a rotational role.

I have often speculated that the Broncos could release Purcell to save cap space and cash. Though the Broncos did cut him after training camp in 2022, it was temporary until the Broncos could make other moves.

And each season, Purcell continues to do well in his role and justify the Broncos' decision to keep him around. He remains on the roster now, and while that could change depending on what happens in training camp, it's not a given that he'll be cut.

K'Waun Williams | CB | 2 Years, $5.2M

Denver Broncos cornerback K'Waun Williams (21) during OTA workouts at the UC Health Training Center.
Ron Chenoy-USA TODAY Sports
Here is another 'you get what you pay for' type of deal. Williams signed with the Broncos in 2022 to be a slot cornerback and rotational player and has gotten the job done.

He did miss some time with injuries last season, but the Broncos didn't commit a lot of money to Williams. This is why, even with missing three games, he delivered enough to justify his salary.

There's an outside chance that the Broncos could cut Williams after training camp to save cap and cash, but as with Purcell, it's not a given.

Chris Manhertz | TE | 2 Years, $6M

Jacksonville Jaguars tight end Chris Manhertz (84) reacts to coming up short against Houston Texans linebacker Jalen Reeves-Maybin (44) during the first quarter of an NFL football game Sunday, Oct. 9, 2022 at TIAA Bank Field in Jacksonville. The Texans won 13-6. [Corey Perrine/Florida Times-Union] Jki 100822 Texans Jags Cp 56
Corey Perrine/Florida Times-Unio / USA TODAY NETWORK
Manhertz is expected to serve as a blocking tight end and he's getting the largest cash commitment of any of the tight ends on the roster. With that said, the Broncos aren't committing a significant sum, relative to what other players are getting.

This one strikes me as another 'you get what you pay for' type of contract. We'll see how Manhertz does in his role with the team. The 2023 season will tell us how the contract really measures up.

Alex Singleton | LB | 3 Years, $18M

Jan 1, 2023; Kansas City, Missouri, USA; Denver Broncos linebacker Alex Singleton (49) celebrates with team mates after a fumble recovery against the Kansas City Chiefs during the first half at GEHA Field at Arrowhead Stadium.
Denny Medley-USA TODAY Sports
After putting together a good season on a one-year deal in 2022, Singleton got rewarded with a multi-year commitment. It's hard to argue that he didn't deserve the deal.

Though Singleton wasn't elite last season, he played much better than expected. Over the Cap gave him a contract valuation of more than $9M, meaning the APY salary he received isn't out of line with his production.

Time will tell if Singleton can keep up his level of play in 2023. The good news is that Singleton doesn't have to be elite to justify the deal — he just needs to be a good player overall.

Josey Jewell | LB | 2 Years, $11M

Denver Broncos linebackers Alex Singleton and Josey Jewell.
Ben Swanson/DenverBroncos.com
After missing most of 2021 because of injuries, Jewell received a two-year deal from the Broncos. He then had a quality season in 2022, becoming one of the team's bright spots.

As with Singleton, Jewell's play wasn't elite, but it was good and that's the level he needed to be at to justify his deal.

Some may speculate the Broncos could cut him to save cap and cash, but I'm not expecting that to happen. With that said, Jewell does enter the last year of his deal, and there's no guarantee for an extension — but as long as Jewell plays well and justifies his deal, that's all you can ask.

Ben Powers | OG | 4 Years, $52M

Denver Broncos offensive guard Ben Powers.
Ben Swanson/DenverBroncos.com
The Broncos got solid value out of the four-year deal they gave to Powers in free agency. It does make him one of the better-paid guards in the NFL, but they avoided a re-set of the market for the position.

Powers' play has steadily improved in his time in the NFL and the hope is he can bring some stability to the left guard spot. If he can do that, this deal will look even better.

Of course, Powers has to play well for this deal to have a chance to be of good value. If he struggles or gets injured, the deal won't look so good.

Samaje Perine | RB | 2 Years, $7.5M

Denver Broncos running back Samaje Perine.
Ben Swanson/DenverBroncos.com
Samaje Perine's deal was the one I liked the most out of those the Broncos gave to free agents in 2023. I'm still a bit amazed the Broncos got him at the price they did.

Perine wasn't going to get a deal at the top of the market, but he could have received more money elsewhere. That he took just $3M in full guarantees is a bit surprising.

While Perine probably won't be the featured back in the offense, it won't take much for him to live up to the value of this deal. All Perine needs to do is prove he can be an effective part of a one-two punch, whether that's with Javonte Williams or somebody else.

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