Operating with Rams-level disregard for first-round picks over the previous two offseasons, the Broncos traded three Round 1 selections in the Russell Wilson and Sean Payton swaps. The team does not have a second-round pick this year as a result of the latter move. As quarterback-needy teams’ draft arsenals are stacked up, the Broncos’ war chest is limited.
Denver holds the No. 12 overall pick, and while it retains its first- and second-rounders beyond this year, Minnesota and Las Vegas are in better position regarding draft capital. Both the Vikings and Raiders also identified clear bridge options for 2024, with Sam Darnold and Gardner Minshew coming off the free agency board early. This certainly leaves the Broncos with work to do, unless they truly are OK with Jarrett Stidham starting a sizable chunk of the 2024 season.
Teams are obviously monitoring the Broncos as a team interested in a QB, and the Washington Post’s Jason La Canfora indicates a heavy expectation exists the AFC West club will draft a passer at some point in Round 1.
Options to do so would range from trading up — and parting with a major asset package — to making sure either Bo Nix or Michael Penix Jr. comes to Colorado via a No. 12 investment. Option three would involve attempting to both grab one of those passers later in the round while picking up some assets by moving down. It could be a complicated night for the Broncos, who are set to eat more than $50MM of Wilson’s record-setting $85MM in dead money this year.
It cost the 49ers two future first-round picks and a third-rounder to move from No. 12 to No. 3 for Trey Lance in 2021. For the Broncos to consider a similar package to climb into the top three would shove them into Rams territory. While Los Angeles famously did not made a first-round pick from 2017-23, that team reaped rewards for the bevy of moves out of Round 1. The Wilson trade burned the Broncos, and making another big move because the 2022 swap failed would deprive the franchise of opportunities to add high-end talent at low costs. Given the dead money from the Wilson contract, the Broncos need cost-controlled assets — even though they also need a quarterback.
On this note, NFL.com’s Peter Schrager adds the team would love to move into the top four to draft a QB but, due to the cost of such a move, stops short of predicting they will do this. Denver also possesses needs at cornerback opposite Patrick Surtain and perhaps at edge rusher.
Unless…