Ed Mulholland-USA TODAY Sports

Free agency doesn’t technically begin until Tuesday, March 12 but the negotiations, phone calls, media posturing and politicking are very much in full swing. Rumors are flying around too. One that has seemingly been around since before the Superbowl was played is particularly juicy. The Broncos are interested in Darrelle Revis.

Do the Broncos really want to go after the now recovering cornerback and potentially unload a first, second or third round pick for him? Even more frightening, would they be willing to go do worse and actually offer a combination of two picks for him?

Free agency offers so many possibilities but carries with it much danger. How much of your future do you give away for a shot at hoisting the Lombardi trophy? How much can you afford to spend this year in order to ensure you can maintain your team if in fact said trophy does not end up on your mantle piece come spring? While John Elway has received lots of praise for the way he has helped rebuild this team through wise draft maneuvering, his greatest achievement is the biggest free agent signing in the history of the NFL. The question now is will he try to make another big splash? Here are three questions that need to be asked.

How long will Peyton Manning be, well, Peyton Manning? If you’re of the mind that the Broncos know they need to win now then grabbing Revis makes a lot of sense. That Ravens playoff game hurt mostly because of the fact that it was Denver’s to win. However, the less immediate pain stems from the fact that every Bronco fan knows Peyton isn’t going to be here for long and no one truly knows how long he’ll hold up. Grabbing Revis and putting him on a Superbowl favorite with Peyton Manning playing for his very legacy sounds scary.

What can the Broncos get for Elvis Dumervil? Ah yes, the new development in Bronco land is the realization that Doom may be on the chopping block. Since negotiations to restructure Elvis’ deal seem to be going nowhere it may be him that ultimately does.  This is truly a sad development. When 9.5 and 11.5 sacks in consecutive years is considered a slump, you my friend are a bona fide stud. He had 17.5 in 2010. He is just extremely expensive for the Broncos to keep around and the organization should be able to unload him. There is a market for Dumervil and Denver should be able to garner some draft picks in return. Those picks could be used to supplement the picks they give away for Revis should they choose to go down that road.

What is Revis going to cost? Not that much! Revis should only cost Denver about $6 million. Wait… what? That’s right. There is a clause in Revis’ current contract stating that has the right to void his current contract next year if he doesn’t hold out in 2013. This means he has hardly any ability to negotiate with whichever team takes their chance on him once a trade is made. He can void his contract in 2014 and might be a headache to resign but if the Broncos spend wisely this off season they should have space if they want him.

The addition of Darrelle Revis is not imperative. This team, as is, is an odds on favorite to win the Superbowl. However, with Revis the Denver defense gets immediately better. Bronco fans can not be happy that Dumervil may be on the move but there are cheaper replacements out there and Von Miller is still here. Revis actually saves the team money and with the fruits of a Dumervil trade, wouldn’t inflict any future damage on the team. Manning has two, three years tops to win a Championship. Elway isn’t going to stop until he gets one.

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December 30, 2012; Denver, CO, USA; Denver Broncos defensive end Elvis Dumervil (92) during the second half against the Kansas City Chiefs at Sports Authority Field at Mile High. The Broncos won 38-3. Mandatory Credit: Chris Humphreys-USA TODAY Sports

And away we go!

Free agency season is upon us in the National Football League.  Teams can start negotiating with free agents Friday night and signings can start Tuesday, the opening of the 2013-2014 season.

The Denver Broncos, of course, are a participant in this madcap talent hunt and, while team officials have preached patience and restraint when it comes to spending the big bucks on elderly jocks, you never know.

Case in point:  last season.

As the scouting combine was under way in Indianapolis and the draft on everyone’s mind, Bronco President Joe Ellis, who deals with budgets and other mundane nuts and bolts, asked Executive Vice President of Football Operations  John Elway, “Why don’t we try to sign Peyton Manning?”

Manning, of course, had just been released by the Indianapolis Colts and just undergone his fourth surgery on his neck.

That bolt out of the blue became 13-3 and an AFC West title for the Broncos.

Then there was the draft:  The Broncos hemmed and hawed, throwing out one smokescreen after another – as most NFL teams are wont to do.

They then pulled off a series of trades in the draft, moving back and acquiring more picks.

Those selections turned into, among others, starting defensive lineman Derek Wolfe, quarterback Brock Osweiler and more young talent that is still with the team.

A method to their madness?

You betcha.

Think there might be similar smokescreens now?

From the Where There is Smoke There is Fire Dept.:  Peter King, Sports Illustrated’s NFL guru, Denver is currently in the lead in the Darrelle Revis trade sweepstakes.

Then this trade rumor popped up last week:  Elvis Dumervil, the defensive end renowned for his sacks, would head to the New York Jets along with Denver’s No. 1 draft pick for cornerback Revis.  According to IBNsportswrap.com, that trade offer was one of three the Jets received for Revis the last week in February.

Want more?

In a recent ESPN Insider story detailing the most overvalued NFL players, the No. 1 player on the defensive list was Dumervil.

The list pointed out the Dumervil, a $15.6 million cap hit this season (almost in Manning territory), was the 13^th-worst run-stopping defensive end in the league and had eight costly penalties.

Would a dozen more sacks be worth the huge cap hit, Insider asked.

It makes you wonder if Elway & Co. – who seemingly always consider all angles – have considered a move that would have Elvis leaving the building.

If the Broncos do indeed pull off the trade rumored above, with Revis and no No. 1 draft pick, the Broncos would likely end up with more freed-up money for more free agents than if they stand pat.

Just something to chew on.

Trade or no, much does remain on the free-agent agenda.  We’ve mentioned it before, but the front burner for Denver would include addressing the interior of the defensive line, secondary, offensive line and possibly running back.

Several players the Broncos may have been looking at have been franchised in the past week, meaning they are stuck with their previous team (yes, Denver franchised offensive tackle Ryan Clady).

Henry Melton is back with Chicago, taking the top defensive tackle off the board.  Another DT, Randy Starks, was franchised by the Dolphins.

One defensive tackle who makes some sense for Denver and is available is Terrance Knighton, a 330-pounder from Jacksonville who played for Denver defensive coordinator Jack Del Rio with the Jags.  He is a run-stuffer the Broncos seek.

As for offensive linemen that may have been eyed, tackle Branden Albert was franchised by the Chiefs.  There are still a bundle of free agents out there that the Broncos may be able to afford like tackles Sam Baker of Atlanta and Jermon Bushrod of the Saints and Bryant McKinnie, who stonewalled Dumervil as Baltimore beat Denver in the playoffs.  The top-rated offensive tackles, Sebastian Vollmer of New England and Andre Smith of Cincinnati, will likely re-sign with their teams.

In the secondary, one of the top safeties, Jairus Byrd, was franchised by Buffalo.  There are plenty of D-backs available, however, including Atlanta’s Brent Grimes and William Moore, Sean Smith of Miami, Aqib Talib of New England and Dashon Goldson of San Francisco.

If Denver doesn’t bring in Revis, they could seriously consider one of the above.

Running backs?

Shonn Greene of the Jets, Ahmad Bradshaw of the Giants and Michael Turner, just released by Atlanta, make sense in Denver’s offense in that they are tough runners up the gut.  Reggie Bush of Miami, doesn’t.

Pay close attention for the next several weeks.  Some of what you see above may actually happen.  Then again …

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Aug 26, 2012; East Rutherford, NJ, USA; New York Jets cornerback Darrelle Revis (24) during the second half of their game against the Carolina Panthers at MetLife Stadium. The Panthers defeated the Jets 17-12. Mandatory Credit: Ed Mulholland-USA TODAY Sports

It’s the perfect Denver Bronco world, a bright sunshiny mid-March day at Dove Valley and John Elway, the team’s resident legend and current boss of everything, is sitting behind his desk.

He’s smirking.

He already has more than an inkling he is about to pull off a few more of those Peyton Manning-type shockers.

Elway, you see, has already agreed with the New York Jets on a trade, giving up a second-round draft choice in the upcoming National Football League draft and another third-rounder next year for all-universe cornerback Darrelle Revis.

He has chatted with the agent of slot receiver Wes Welker and the agent has taken Elway’s offer back to Welker for rubber-stamp approval.

Richard Seymour, the former Oakland monster in the middle, has also agreed to come to the Broncos because he simply loved the atmosphere at New Mile High when he was a Patriot and a Raider.  And he also mentioned the fact that he wanted to play for a contender after several years of struggling with the Oakland demise.

Steven Jackson, the longtime Ram standout, has voided the final year of his contract and called you-know-who and begged, yes, begged, for a chance to become the Bronco running back of the immediate future.

Yes, Elway is smiling big time, showing off all those pearly whites as only a man constantly holding a royal flush can do.

And it only gets better.

Elway’s secretary buzzes and says he has a phone call “from a Mr. Charles Woodson.”

Yes, things are as close to perfect as can be in BroncoNation.

And if you believe any or all of that, I’ve got a near-new 2007 Chevy Avalanche I’ll sell you for only fifty grand.

Yes, it’s difficult not to get excited on an hourly basis as speculation runs rampant on the NFL free-agent front.

The comings and goings of NFL big names are going to pop up like so many green leaves in the next couple of weeks – and the Broncos may grab onto one or two.

But don’t look for any or all of the above to happen.

For one thing, Revis will cost too much money.  He is trade bait, sure, but Denver would have to pay him a ton – and give up plenty in terms of current personnel or draft choices.

Welker will be a Patriot again. Tom Brady just took a hefty pay cut in order to keep some of his teammates and Welker is only his favorite receiver ever.

Seymour, Jackson and, yes, Woodson, are all long of tooth, over many hills and will become Broncos only in the event they want to play for near the veteran minimum wage.  There are too many teams out there with too much salary-cap space to allow those stars to sign for virtually nothing.

Denver will have somewhere in the neighborhood of $10 million to mess with when it comes to signing free agents.  Teams like the Browns, Dolphins, Bengals and Colts will have up to $50 million that they have to spend.

The Broncos signed their big-name free agent a year ago and his name is Manning.

Bronco Nation is not going to be capable of another big-money signing like that unless Manning pulls a Brady and goes to work this next season or two for roughly half of what he has already agreed to.  Papa John’s pizzas aren’t selling that well.

Instead, Elway, Manning and the rest of the Broncos will go about this process the right way:  They will re-sign the people off their roster they think need to be taken care of.

I’m thinking that means Kevin Vickerson and Justin Bannan at defensive tackles.

There just isn’t much better than that available, as I’ve mentioned before.

They will take care of Brandon Stokley one more time at slot receiver.

They will give Willis McGahee a chance to prove he is healthy;  ditto Knowshon Moreno.

The biggest shakeup will take place on the offensive line, where Orlando Franklin will be moved inside to right guard (it just makes too much sense not to do that), and second-year man Philip Blake will give veteran J.D. Walton a battle to start at center.   The Broncos will spend money on a veteran right tackle to replace Franklin.

Other free agents?

Sure, there will be several signed.

But it will be, with the obvious Manning exception, more of what we saw last season by targeting relatively low-cost veterans who will fill specific needs.

So, don’t go overboard on the rumor mill when it comes to free agents.

Something will happen – just nothing like what you may have read near the start of this diatribe.

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