Broncos prove they aren't rebuilding with record-shattering Pat Surtain contract

Denver Broncos cornerback Pat Surtain II is the best player in the NFL at his position. Now, he's being paid accordingly.

Surtain signed a massive four-year contract extension worth a whopping $96 million in total money with $77.5 million in guarantees. In other words, Pat Surtain got the bag.

Pat Surtain II is the highest-paid defensive back in NFL history

Although these records are made to be broken these days, Surtain's contract with the Broncos makes him the richest defensive back in NFL history from an average annual value standpoint. At $24 million per year, Surtain's deal is $3 million higher in average annual value than the next highest, which is Packers cornerback Jaire Alexander at $21 million per year.

The $77.5 million in guaranteed money is the highest ever given to a cornerback in the NFL, surpassing the next highest (Browns cornerback Denzel Ward) by over $6 million.

Although PS2 is a core player of the Denver Broncos' roster right now, this is not a move that indicates anyone in the organization believes they are "rebuilding". Why do I say that? Well, if the Broncos believed, on any level, that they were a rebuilding team, they would realize that Pat Surtain II is unquestionably their most valuable asset. And you don't lock in your most valuable asset to a record-setting contract if you don't plan on keeping him around and part of your core.

Essentially, the Broncos had no reason to extend Surtain now if they felt they were rebuilding on any level. They could have kept him at his current contract, which runs through the end of the 2025 season (before they would have franchise tags available in 2026) and use Surtain as trade bait to acquire draft capital.

That option is no longer on the table. Surtain is not going anywhere, and the Broncos giving him this extension now speaks volumes not only to his own individual ability, but the internal belief that this franchise is ready to take a massive step forward this season.

Surtain is a two-time Pro Bowl selection and 2022 All-Pro selection who has played more snaps (2,155) than any other cornerback in the league over the last two seasons. He was the first draft pick of the George Paton era and he's now the second player from that class to receive a massive contract extension before his rookie deal even expired.

Surtain has 7 career interceptions, 36 passes defensed, and has not allowed even 60 percent of the throws into his coverage to be completed over three years of starting.

The Broncos managed to get Surtain a record-setting contract just before that market is probably going to explode in future years as it's not out of the question to think corners could be getting paid $30 million in average annual value within the next two offseasons.

Surtain can now work on etching his place in Denver Broncos history as this contract locks him in to Denver for the long term, although at the time of this post being written, it's unclear if the Broncos intend to rip up the final two years of his contract or simply add this deal on beyond 2024. More information is sure to come to light in the near future.