The Denver Broncos, as of now, have hardly done anything in free agency. They re-signed most of their own guys and did swing a deal for Jaylen Waddle, but the external free agency additions have not been an emphasis with the team thus far.
Sure, there are still about five and a half months until the start of the 2026 NFL Season, so there is loads of time for the Broncos to bring in some help. But at this point, the team may be more geared toward preparing for the NFL Draft right now.
And that isn't a bad thing, as during free agency, some jaw-dropping contracts were handed out, and it's good that the Broncos avoided overpaying for these three players in particular.
The Denver Broncos were wise to avoid these free agents
Kenneth Walker III, RB (three years, $43.05 million)
Kenneth Walker III's deal is worth over $14 million per season and contains nearly $30 million in guaranteed money. This was very clearly a 'Super Bowl tax' that the Kansas City Chiefs paid. Instead of Walker, the Broncos re-signed J.K. Dobbins on a two-year deal worth $20 million, but the deal is essentially a one-year pact worth $8 million, as the Broncos can easily get out of it next offseason.
And while you may disagree, which is fine, Dobbins is a more efficient runner. While Walker is a good player, he's only amassed two 1,000-yard seasons in his four years in the NFL. And in 2025, he rushed for 1,027 yards, five touchdowns, averaged 4.6 yards per carry, and had a 43.9 percent success rate.
In 10 games for the Broncos, Dobbins had 772 rushing yards, 4 touchdowns, 5.0 yards per carry, and a success rate of 53.6 percent. While Dobbins has struggled to stay on the field, he was objectively a more efficient running back last year.
Not only that, but Walker is a tad bit undersized, isn't good in pass protection, and doesn't offer much as a receiver. The Broncos would have been making a massive mistake by signing Walker to that bloated contract.
Alec Pierce, WR (four years, $114 million)
There were some across the NFL landscape playing matchmaker with Alec Pierce and the Broncos, but the fit never really made sense. Pierce finished up his fourth year in the NFL in 2025 and had his first 1,000-yard season, but it was on just 47 receptions.
Pierce has led the NFL in yards per reception the past two seasons, but he's more of a no. 2 option than anything. Sure, he can run fast and block well, but given the Broncos obvious need for a more well-rounded receiver, signing Pierce would have been a disaster. He landed a deal worth nearly $30 million per season from his current team, the Indianapolis Colts.
Simply put, for only modest productivity at the position, this contract is far too rich. Pierce is now the 12th-highest-paid wide receiver on a per-year basis, actually just ahead of Jaylen Waddle, who is a better player and making less on a per-year basis.
The Broncos avoiding Pierce was a wise move.
Devin Bush, ILB (three years, $30 million)
Quietly, Devin Bush signed a three-year deal worth $30 million with the Chicago Bears. In 2025, Bush actually had the best year of his career. With the Cleveland Browns, he racked up three interceptions, eight passes defended, 125 total tackles, seven tackles for loss, and four quarterback hits.
This was Bush's best season in his seven-year career, and to be honest, it was really only his second 'good' season in the NFL. He also benefitted from Myles Garrett having an all-time season getting to the quarterback. Given that Bush has had more below-average play on the field than good play, this would have been a massive gamble for the Broncos.
Sure, $10 million per season is not necessarily a ton of money with today's salary cap, but it still is a hefty payday for a player who did have a lot going on around him that helped elevate his game.