The Denver Broncos didn't feel like the 2026 NFL Free Agent class was worth participating in the NFL Free Agency frenzy, so they didn't.
And the fan base didn't love that at first, but patience might have been the right call for the Broncos, considering what they've got at stake. The Broncos spent NFL free agency re-signing their own players. In fact, they signed 17 of their own 21 in-house free agents, meaning the 90-man roster was comprised of 71 players who were with the team in some capacity last season.
After adding Jaylen Waddle in a blockbuster trade with the Miami Dolphins, as well as signing safety Tycen Anderson to boost the special teams, the Broncos finally broke the ice, but they didn't break the one thing they were trying to keep in place: Their projected compensatory picks in 2027. The compensatory pick formula is likely the biggest reason the Broncos abstained from free agency, but that will no longer be a factor in the very near future.
Denver Broncos free agency may officially begin right after the 2026 NFL Draft
The deadline for NFL free agents to count toward next year's compensatory formula is Monday, April 27, at 4 PM ET. That means when we cross that point in time, it's reasonable to assume there will be a significant flurry of free agent activity around the NFL.
Teams have been protecting their 2027 compensatory picks like their lives depend on it this offseason, and the Broncos aren't alone. Teams like the Packers, Jaguars, Seahawks, and Eagles (all contending teams, not coincidentally) have been protecting those compensatory picks even at the expense of even more frustration than we've seen from the Broncos' fan base in some cases.
The Broncos are currently expected to receive two compensatory picks in the 2027 NFL Draft: A 4th-round pick for losing John Franklin-Myers to the Titans and a 7th-round pick for losing PJ Locke to the Cowboys. Nobody the Broncos have signed, up to this point, counts against them in that formula.
We know the Broncos are being mindful of this, because general manager George Paton has already hinted at it, and so has head coach Sean Payton.
"We are going to be looking in the draft (at running back), and we are going to be looking after the draft. We are always looking. We didn’t sign [RB] J.K. [Dobbins] until like May or June last year. We feel good with where we are at right now. Last year at this time, we didn’t have J.K. and we didn’t have RJ, and we were OK. We’re going to be fine.”
- Broncos GM George Paton (via team PR)
Paton's quote here is specifically talking about the running back position, but the principle remains the same. The team is going to be looking after the NFL Draft, because they know they are going to able to sign guys without affecting the compensatory formula at that point. And the JK Dobbins signing last year is a great reminder of why it's so important to be measured and thinking with a longer-term vision.
The Broncos don't begin their offseason work until way later than most teams -- May 4. That will give them a full week after the NFL Draft to evaluate the roster, add more free agents, and still have everyone in the building from Day 1 of the entire operation.
Head coach Sean Payton was asked at the NFL owner meetings about whether or not he feels good about where his roster is, and he offered some very interesting perspective.
“I never feel good. We have the draft coming up and we are excited about that. The point is though, you have to apply some patience and have a good plan. We recognize where we are at. We understand exactly where we are at with [QB] Bo [Nix]’s contract, our team. And yet, the mistake that two-thirds of the teams make is trying to "win the day." Win the draft day, win the hiring cycle day, and win the free agency day. We are interested in winning. That’s why our fanbase is extremely important to us, but we are going to do what we think is best for our team to be better when this puzzle is finished at the end of, call it June. Then what do we look like at that point?
- Broncos HC Sean Payton (via team PR)
So Payton is preaching patience not only until after the end of the 2026 NFL Draft, but the end of the month of June. Every situation is unique, but it's important to remember that JK Dobbins was not acquired until the team about broke off before training camp, and he was one of top-5 rushers in the NFL through the first 10 weeks of the season.
You can still acquire important players this late in the free agency process, especially this year, where a lot of guys are still sitting on the open market.
It certainly felt like the Broncos were missing out in the early stages of free agency, but the Jaylen Waddle trade has pacified the fan base, and the closer we get to the NFL Draft, the more it feels like that patience is worth the temporary suffering.
The Broncos will still be able to address needs in free agency, and they'll have a couple of compensatory picks (including a 4th-rounder) in their back pockets for next year's draft.