The Denver Broncos have already made some aggressive free agency moves ahead of the official start of the tampering and signing period.
What are some of the major decisions the franchise made on the eve of the 2024 league year? Let’s take a look at the latest news and notes coming out of the Rocky Mountains.
Denver Broncos Free Agency News and Rumors
Jerry Jeudy Dealt Away for Extra Day 3 Draft Picks
Starting off with a Saturday update: Jerry Jeudy is officially a former Bronco, as the 2020 15th overall pick is off to the Cleveland Browns.
In a deal first reported by ESPN insider Adam Schefter, Jeudy got shipped out to the AFC North contender in exchange for two draft picks. Those selections eventually were revealed to be a fifth- and sixth-rounder by the NFL Network’s Ian Rapoport.
Turns out the Browns beat out two AFC East teams also interested in Jeudy. ESPN insider Jeremy Fowler cited the New York Jets and New England Patriots as two teams that were interested in Jeudy.
Despite being taken in the top 20 of his draft class, the former Alabama Crimson Tide wideout never established any consistent dominance in the league. Last season, Jeudy was limited to only 54 catches for 758 yards and two touchdowns.
His best season was 2022, a season in which Jeudy finished 972 yards and three touchdowns on 67 receptions.
Jeudy, though, had been considered a 2024 offseason trade candidate heading into the final year of his rookie deal. He was also plagued with injuries and expressed frustration over what he felt was a lack of targets.
But prior to the Jeudy trade, the Broncos made one more significant move that altered their offense, not to mention the 2024 free agent market for quarterbacks.
Russell Wilson To Be Released, Ending Tumultuous Broncos Run
Denver is putting an end to what became a truncated Broncos run for Russell Wilson.
The franchise revealed its intentions to release the Super Bowl-winning quarterback on March 4. The move becomes official on Wednesday, March 13, when teams can officially sign and release players.
For Wilson and the Broncos, it ends a two-year relationship marred with inconsistency and criticism.
Wilson went 11-19 overall as the starter. The Broncos failed to make the postseason in either of his two seasons and endured a head coaching change from Nathaniel Hackett to Sean Payton.
The latter eventually benched Wilson with two games remaining. Yet, the move was characterized primarily as a means of sidestepping a massive injury guarantee in Wilson’s contract.
PFN’s Dallas Robinson noted that the Broncos had the option to use a post-June 1 designation once Wilson is released.
“While the nine-time Pro Bowler will immediately depart the Broncos’ roster, the club can spread his dead money over the next two seasons: $35.4 million in 2024 and $49.6 million in 2025,” Robinson wrote.
Meanwhile, Wilson has already reportedly visited with the Pittsburgh Steelers and New York Giants, and he also has a potential future meeting with the Las Vegas Raiders, according to Schefter.
Justin Simmons Says Goodbye to Denver
Wilson’s and Jeudy’s time in the Rockies was short-lived. Safety Justin Simmons, meanwhile, saw his much longer Denver run also conclude.
Simmons, who’s played all eight of his NFL seasons with the Broncos, was another veteran the team revealed to be releasing. Simmons already took to his personal X (formerly known as Twitter) account to say his goodbye to the Broncos and their fans.
This decision saves $14.5 million in cap space for the Broncos. However, it also means severing ties with a two-time Pro Bowl safety.
Simmons is anticipated to be in hot demand among teams needing safety help. PFN’s Nick Faria is already envisioning the Philadelphia Eagles as one suitor.
Broncos Make Crucial $11 Million Decision
We now get into who will be guaranteed to be on the Broncos’ 2024 roster. Mike McGlinchey will be blocking for whoever becomes the new QB1 next fall, and his modified deal offers some key savings for Denver.
McGlinchey and Denver agreed to a restructured contract Saturday, per ESPN insider Field Yates. The moves now creates $11 million in cap space for Denver.
KEEP READING: NFL Free Agency Predictions — Cowboys Land Derrick Henry, Chiefs Sign Gabe Davis
McGlinchey was a huge offensive line addition in the 2023 offseason after a stellar tenure with the San Francisco 49ers. He originally signed a five-year, $87.5 million deal to join the Broncos.
McGlinchey wasn’t the only player to see his contract restructured. Wide receiver Tim Patrick, who was slated for a $9.5 million base salary in ’24, had his deal reworked and will also save the team cap space as a result.
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