Despite already having Jerry Jeudy, Tim Patrick and Courtland Sutton on the roster, the Denver Broncos signed wide receiver Marquez Callaway during free agency.
After that, the Broncos traded into the second round of the NFL draft last week to select Oklahoma speedster Marvin Mims, making Denver’s wide receiver room even more crowded.
In addition to Jeudy, Patrick, Sutton, Callaway and Mims, the Broncos’ wide receiver depth chart also includes KJ Hamler, Kendall Hinton, Jalen Virgil, Brandon Johnson, Montrell Washington and Lil’Jordan Humphrey.
So what gives? Why did Denver make it a priority to trade up for a receiver during the draft when the team already has a crowded WR room? Today, we’ll try to make sense of the situation.
1
Denver could have made a trade if the price was right
The Broncos tried to sign Allen Lazard and Adam Thielen during free agency, which appeared to be a clear sign that Denver was preparing to part ways with at least one WR already on the roster. Despite receiving interest from multiple teams, though, the Broncos ultimately decided against trading Sutton or Jeudy this spring.
So what happened? Denver had a high asking price for both players — reportedly a first-round pick for Jeudy and perhaps a second for Sutton — and no teams were willing to meet that price. When no teams were willing to trade a high pick, and after the Broncos failed to land a high-profile WRs during free agency, it made more sense to keep Jeudy and Sutton than to settle and trade them for less than Denver’s asking price.
2
The Broncos are thinking ahead
While Sutton and Jeudy aren’t going anywhere at the moment, NFL teams are always thinking ahead. Sutton would have a massive “dead money” salary cap hit of $25.47 million if Denver cut him this offseason. That number will drop to $7.65 million in 2024 and $3.82 million in 2025.
That’s not to say the Broncos are planning to cut Sutton, but the feasibility of doing so will increase later in the WR’s contract. Meanwhile, Mims will be on a team-friendly contract through the 2026 season.
Tim Patrick is set to turn 30 this fall and Denver could cut him next offseason with a dead money cap hit of just $2.32 million. Again, that’s not to say the Broncos are planning to cut Sutton or Patrick, but the possibility of parting ways with players increases late in contracts when dead money cap hits can be lower.
Even if Patrick finishes out his contract through the 2024 season, he would then become a 31-year-old free agent. Mims would be 23 years old and still playing on his rookie contract when Patrick is scheduled to hit free agency.
Selecting Mims gives Denver more long-term flexibility and a team-friendly contract at WR for the next four years.
3
KJ Hamler's future
Much more than Jeudy, Sutton or Patrick, the Mims pick could be viewed as bad news for KJ Hamler. Similar to Hamler, Mims is a speedy deep threat who offers big-play ability as a punt returner. With Hamler currently injured and set to become a free agent next year, Mims seems likely to push him down the depth chart.
The same could be said for Montrell Washington, another speedy receiver who was supposed to provide a spark on special teams. If Mims impresses this summer, Hamler and Washington could both be in danger of not making the 53-man roster.
4
The Broncos wanted a new returner
Broncos coach Sean Payton made it no secret that the team was looking for a new punt returner, declaring as much at the NFL owners’ meetings earlier this offseason. They have seemingly found their man in Mims, who averaged 16 yards per punt return with the Sooners last season. Trading up for Mims wasn’t only about securing a new punt returner — he will contribute on offense as well — but it was definitely a factor in the team’s decision.
5
What happens next?
The Broncos appear set to go into the summer with Jeudy, Sutton, Patrick, Mims, Callaway, Kendall Hinton, Jalen Virgil and Brandon Johnson among their top options at receiver. That’s eight players even before counting Hamler, Washington or Humphrey, so Denver certainly has a surplus of talent at the position.
With so much depth at WR, the possibility of a trade will linger into training camp and up to roster cuts later this summer. If the Broncos have held firm in their asking price for Sutton or Jeudy this long, there would be no reason for them to give in to a lower offer now. Perhaps a more realistic scenario would be Denver trading a WR lower on the depth chart, similar to when they traded Trinity Benson in 2021.
If a team comes to the Broncos and makes them a big offer, there’s still a chance that Jeudy or Sutton could play elsewhere in 2023, but as of now, it appears that Denver is merely stacking depth and thinking ahead at WR.
