The Denver Broncos haven't been overly active in NFL Free Agency since the initial wave of players signing, but frankly, that's been pretty par for the course across the entire NFL landscape. The frenzy of activity that took place in the days leading up to NFL Free Agency and in that first week was super exciting, but it's been a very slow news cycle ever since and we're all begging the team to do something.
Give us something more to talk about before the 2025 NFL Draft. It's not like there are no moves to be made or good players to be signed.
With that being said, there have been some minor moves made over the course of the last handful of weeks to recap and grade for the team. Let's take a look at what the Broncos actually have been up to, whether it's adding players, restructuring any deals, or letting players go.
Grading the last 5 moves made by the Denver Broncos (good and bad)
1. Losing WR Lil'Jordan Humphrey to Giants
The Denver Broncos attempted to re-sign veteran wide receiver Lil'Jordan Humphrey but to no avail. Humphrey must have disliked the offer or role the Broncos were presenting to him (or both) and decided to take a one-year deal to compete for a spot with the New York Giants.
And frankly, this feels a bit like addition by subtraction.
In the case of Lil'Jordan Humphrey, it's important to give credit where it's due while simultaneously acknowledging that Sean Payton was playing favorites with him. Humphrey was tied for the worst drop rate at the WR position for Denver (6.7 percent) with Courtland Sutton, who had triple the number of targets as Humphrey.
He had the lowest average depth of target (ADOT) among Broncos WRs which means he was dropping passes at a higher rate than others despite getting targets closer to the line of scrimmage where he wasn't even being asked to separate or make contested catches. As strong of a blocker as Humphrey is, the fact that he played nearly 50 percent of the snaps at WR for the team last year (2nd among WRs) despite starting the year on the practice squad is indicative of the problem at the position for this team.
Grade: A
2. Restructure of Jonathon Cooper's contract
The Broncos converted a $4 million roster bonus for Jonathon Cooper to a signing bonus, freeing up $3.2 million in cap space while adding a void year to Cooper's contract down the road. Ultimately, the Broncos only need $3.2 million in cap space to add their entire draft class next month, so perhaps that is what this was about.
Or maybe they are working on adding another free agent. Whatever it is they're doing, there's no reason to make this move with Cooper unless it's for something specific on this year's salary cap. You don't add a void year to a contract unless you're doing it to improve your team in some way.
This is the first move the Broncos have made in 2025 to free up cap space. They have not done any other restructures or made any cuts. Very interesting, indeed...
Grade: B
3. Signing punter Matt Haack
You've got to have your specialists covered and the Broncos went with at least some form of familiarity with left-footed punter Matt Haack, a veteran who averaged 47 yards per punt last year as a member of the New York Giants (in just four games).
Nine of his 21 punts for the Giants were downed inside the 20 which actually made for the highest percentage of punts inside the 20 for his entire career. Granted, it was only a four-game sample, but the Giants really put him to work.
Haack has kicked for Darren Rizzi before and will obviously have a major edge going into the offseason program, regardless of what competition the Broncos bring in.
4. Dolphins sign QB Zach Wilson
We've known about this move for a while, but the Dolphins and Zach Wilson only made it official on March 17. The former 2nd overall pick of the New York Jets is making his return to the AFC East and honestly is in a great situation.
The Dolphins have needed an upgrade to their backup QB spot and Wilson might have a legitimate chance to play in 2025. Tua Tagovailoa is consistently missing time for one reason or another and this might be Wilson's path back to a starting gig in the NFL.
The Broncos re-signed Jarrett Stidham as their backup, so it's a win-win for Wilson to get an upgraded situation in a state where there is no income tax. Good for him.
Grade: B+
5. Signing tight end Evan Engram
Believe it or not, this is one of the five most recent moves made by the Denver Broncos. The team's decision to sign Evan Engram is well-documented at this point from the cost to acquire to the potential impact he will have on the offense.
Engram is confirmed to be the "Joker" in Sean Payton's offense and brings the Broncos a level of ability in the passing game that they have not had at tight end since Julius Thomas.
Engram was signed to a two-year deal worth $23 million in total money. It's really a fair price for someone of his caliber, who has been one of the top five players at the tight end position in a number of major receiving categories. Getting Engram in the fold, and beating the Chargers to do it, is one of the biggest moves of the 2025 offseason.
Grade: A+