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Bryce Callahan Could be a CB Bargain for Broncos if he Plays Well in 2020

The Broncos are counting on Bryce Callahan to earn the money on his relatively modest cornerback contract.
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Cornerback is one of the positions for the Denver Broncos that remains in doubt for the 2020 season. With one veteran coming off a down year, another coming off an injury, and the rest lacking experience, it's understandable that Broncos fans would be concerned.

The Broncos were fortunate to get great value out of the Chris Harris, Jr. and Aqib Talib contracts, both of whom contributed mightily to the Super Bowl 50 championship. Harris took a below-market extension, while Talib took a team-friendly deal that allowed the Broncos to go year-to-year with deciding on whether or not to keep him.

Since then, the market for cornerbacks has gone up and, now, the Broncos have taken on a contract that re-set the market at the time the player signed it.

We'll get to that player in a moment, but the question to ask is how much value the Broncos are getting out of their cornerback contracts now and, if they decide to find a replacement in 2021, what they can expect.

Current Broncos Cornerbacks

A.J. Bouye, whom the Broncos acquired from the Jaguars for a fourth-round pick, didn't have his best season last year. It's understandable there are concerns from fans about how well he will perform this season, now that he's tasked with being the top corner.

Bouye signed a five-year, $67.5 million contract with the Jacksonville Jaguars in 2017. He still ranks among the 10 highest-paid cornerbacks in the NFL, averaging $13.5M per year. 

However, Bouye's fully guaranteed money has been paid out, meaning he is with the Broncos on a year-to-year basis for the next two seasons, with a $13M base salary and $500,000 in per-game roster bonuses (that $500,000 is paid out per game, meaning you divide the amount by 16 to get his per-game amount).

Bouye's future with the team depends on how well he plays this season. If he has a good 2020 campaign, the Broncos will keep him. If not, they can cut him to free $13M in cap space with no dead money. Given that Bouye's contract is among the highest in the league, he would be overvalued at $13M and will need to prove he's worthy of that amount in 2020.

The other veteran cornerback, Bryce Callahan, would have been considered great value on his contract were it not for a teammate stepping on his foot and bending a screw in the plate he got after surgery. Alas, Callahan was never able to take a regular-season snap in 2019.

But Callahan's three-year, $21M contract that he signed last year didn't even put him in the top-30 contracts for cornerbacks at the time he got the deal. Imagine if he had been able to play in 2019 and played well. Many would tout that deal like the deal Harris originally signed, calling it a bargain.

Callahan renegotiated his 2020 salary so that he received a $3.5M roster bonus that was fully guaranteed, plus a $1.25M base salary, with $2M converted to incentives based on playing time. Should he stay healthy and play well in 2020, not only will that represent good value, but it will ensure he sticks around with the team in 2021.

In short, the Broncos have two veteran corners who need to prove themselves, but one comes at a high cost regardless of his level of play, while the other will be a great deal if he plays at a high level.

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Current Cornerback Market

There have been a few players who have set the market for cornerbacks, though prices didn't go that crazy this past offseason.

Marcus Peters, whom the Baltimore Ravens acquired in a trade last season, took less than expected when he signed a three-year, $42M extension. James Bradberry signed with the New York Giants as a free agent, taking $43.5M over three years. Neither was a contract that re-set the market.

Two others took contracts that came closer to that, though. Byron Jones got $82.5M over five years when he signed with the Dolphins, while the Eagles traded for Darius Slay and gave him a three-year, $50M extension with $26M in full guarantees.

There was one surprise, in which the Bengals gave Trae Waynes a three-year, $42M contract as a free agent. While not a deal that re-set the market, it did come after Waynes had a down season and from a team that is not known for giving big contracts in free agency.

The top-level corners are likely to push for $17M or more in future seasons, though it will depend on what happens with the salary cap and revenues this coming season.

Future Free Agent Cornerbacks

In 2021, all eyes will be on Jalen Ramsey, who is likely to get the franchise tag from the L.A. Rams after they traded multiple draft picks to acquire him from Jacksonville. Ramsey is the one cornerback who will be looking to re-set the market and become the highest-paid at his position.

But it remains to be seen whether any other cornerback will approach the levels Ramsey will hit. Perhaps Patrick Peterson will do that, but he will be 32 years old next year and teams will have to ask how soon before his play declines.

Otherwise, it's a mix of aging veterans such as Richard Sherman, Josh Norman, and Jason McCourty, or younger players currently on one-year deals such as Eli Apple, Daryl Worley, and Ronald Darby. In summary, it won't necessarily be a cornerback market in which multiple players will be getting top dollar.

On one hand, that's good for the Broncos if things don't work out with Bouye and/or Callahan. On the other hand, it's going to be difficult for the Broncos to find a player in his prime through free agency, unless a younger cornerback breaks out.

Bottom Line

The best hope is that Bouye and Callahan stay healthy and play well in 2020, and that some of the younger cornerbacks develop into good contributors.

If Bouye and Callahan both struggle or can't stay healthy, the Broncos will likely have to look to the draft for more help, while finding what help they can in free agency to serve as a bridge to younger players they develop.

But if things come together for Bouye and Callahan, Broncos fans can breathe easier, knowing they won't have to enter what looks like a less-than-appealing free-agent market in 2021. And in the case of Callahan, a good season means the Broncos would arguably have a corner on a great value contract again.

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