According to ESPN NFL Insider Adam Schefer (on NFL Live), the Denver Broncos were one of the teams that "checked in" on veteran wide receiver Stefon Diggs before he ultimately signed a ridiculous $69 million deal with the New England Patriots worth $26 million in guaranteed money. It's been reported that the Broncos will add a wide receiver "of note" this offseason, and Diggs would certainly have fit the bill, but not with that kind of bill, if you get my drift.
The Broncos are likely still in the market for a veteran receiver, but the price tags of veterans who have become available (such as Cooper Kupp and Stefon Diggs) have been out of the realm of palatable. It's not that the Broncos can't afford to bring these guys in, but they want to continue investing in their young players at the position.
Paying an older receiver a lot of money to come in and eventually possibly ride the pine is not a good use of financial assets.
Broncos should still be looking to add veteran wide receiver
There are still a handful of wide receivers available in NFL Free Agency that would mamke sense for the Denver Broncos.
Veteran Amari Cooper has history (albeit brief) with Broncos wide receivers coach Keary Colbert at Alabama. Veteran Keenan Allen might be the perfect fit overall for what the Broncos need in a short-term investment and someone who might have a bone to pick with the AFC West still.
Tyler Lockett and Tyler Boyd are both still available, but the pool of free agent receivers is quickly drying up and the Broncos are going to have to start making some offers to guys or the "of note" part is going to quickly drop off their potential targets. It's worth wondering if the Broncos could possibly swing a trade during the draft for a receiver as well, similar to the way they made trades the last two years for Adam Trautman and John Franklin-Myers.
Who would even be available in that sort of a move? That's another article for another day, probably, but you never know.
One of the younger players still available in NFL Free Agency is former Cleveland Browns and New York Jets receiver Elijah Moore, a former second-round pick who torched the Broncos in their game against the Browns last season.
Moore would be a fun one-year flyer to see if he can fit with the organization, but is he a locker room fit?
The NFL Draft is less than one month away at this point and the Broncos are likely to address the offense significantly in this class. They need a RB1 for the offense and a developmental receiving option at tight end. Wide receiver is deep in this class but the Broncos may be pleased with their current young core of guys at that position.