The Denver Broncos certainly have a long list of things they might want to do this offseason, and it's all become more urgent after the Russell Wilson news broke. The Broncos need a franchise quarterback, among other things. I think the team knew what they had planned to do with Russell Wilson for weeks now, but it was only a matter of time before the news broke.
Now, Sean Payton will enter, perhaps, the most important offseason of his NFL head-coaching career, which is saying a lot. His most important item on the to-do list is to draft a QB in the 2024 NFL Draft. The Broncos should stop trying the veteran QB route and just take a chance on a guy in the draft. However, there are other items on the to-do list that the Broncos must complete now that the news of Russell Wilson's coming release is official.
1. The Broncos must free up cap space
And I don't think they should just free up enough to tread water. I think they need to free up tens of millions of dollars in cap space. I recently penned an article about how the Broncos can clear up about $50 million in cap space, and they should get to work doing that. One huge reason why they need to do this is because of their obvious hole at QB.
The Broncos should dip their toes into the free agency market to try and fill some of their needs, especially on defense. Being able to smartly fill needs in free agency could help soften the blow of having some uncertainty at QB. The Broncos' defense could use several new starters, and if the Broncos can build up a strong defense in FA, perhaps, it might make things a little bit easier.
And well, the Broncos currently have negative cap space at this moment, on the fifth of March. In the coming days, we'll likely see them free up cap space just to get compliant, but they need to create more than just some pocket change.
2. The Broncos should try to sign a few starters in free agency
On offense, the Denver Broncos could use starting-level help at wide receiver, tight end, and running back. (Obviously, besides QB). On defense, you could argue that the Broncos could add a starter to every position group. The defensive line is quite bad. The EDGE rushers are complimentary pieces at this point and low-end starters in my opinion.
At ILB, Josey Jewell is a free agent, and in the secondary, the Denver Broncos do not have a viable CB2, and could use up to two new starters at safety. I say two new starters since Justin Simmons could be a logical trade candidate for the Broncos this offseason, as he is turning 31 in 2024, is in the last year of his contract and could bring the Denver Broncos $14.5 million in cap savings.
PJ Locke III is a free agent, but perhaps he does not return to the team. Free agents on both sides of the ball the Broncos could potentially sign include, Hunter Henry, Saquon Barkley, Josh Jacobs, Tyler Boyd, Hunter Henry, Danielle Hunter, Javon Kinlaw, Carl Lawson, Leonard Williams, Devin White, Jordan Whitehead, Darious Williams, among many, many others who will be in the free agency market.
I am not here saying that the Broncos need to create $40 million worth of cap and burn through it all. However, with Russell Wilson no longer being in the picture, the Broncos should work to try and fill some of their other needs. This could help ease a new QB into the team when that addition is made...
3. The Denver Broncos must draft a QB in the 2024 NFL Draft
I mean, this is pretty obvious. Russell Wilson is not in the picture, so the Denver Broncos need, NEED to draft a QB in the 2024 NFL Draft, ideally in the first round. The team currently has the No. 12 overall pick in April's draft, so they may have to trade up in order to get their guy. Someone like Michigan's JJ McCarthy might not be there for the Broncos at 12, so they could be forced to move up to get him.
However, someone like Oregon's Bo Nix could very realistically be there with the 12th overall pick. Washington's Michael Penix Jr is also someone who doesn't seem to be a locked-in first-round pick. Now, we could argue until we're blue in the face who the best fit would be. In my opinion, I am just going to trust who Sean Payton and his staff feel is the best fit for this team.
If they think it's Nix, cool! If JJ McCarthy is the best fit for them in their view, so be it. I am here to cheer for the Broncos no matter who the QB is, and I cheered for Russell Wilson and Jarrett Stidham in 2023. Gone are the days of the Broncos acquiring a middling, veteran QB.
I hope, at least.
With the major financial burden of cutting Russell Wilson, it's clear that the Denver Broncos are not playing games this time around, so they need to go draft a QB in 2024.