Broncos Get First Glimpse of Marvin Mims Jr.'s Price Tag

Marvin Mims Jr. enters a contract year, and one potential obstacle to the Denver Broncos extending the wide receiver and returner is figuring out his value. Does Mims want receiver money or returner money?

He's a two-time Pro Bowl and All-Pro returner, but such players don't typically command top dollar on the open market unless they also happen to contribute significantly on offense as a receiver or running back. Mims has a role on offense, but the Broncos have treated him like the No. 5 receiver, and those guys don't get the bag.

We may have a better picture of Mims's value, though, thanks to The Denver Post's Luca Evans, who spoke with some agents from around the NFL to get a bead on the issue.

"Several NFL agents who spoke to The Post for background on the league-wide demand for receivers pinpointed Mims’ current value, indeed, upwards of $10 million per year on the open market," Evans wrote. "One agent with several wide-receiver clients projected Mims could command between $11 to $13 million annually, which could rise 'depending on how well he does this season,' as the agent said."

The Shaheed Comparison

$11 to $13 million might be the floor for Mims. The best example of what Mims could be looking for is Rashid Shaheed's $17 million-per-year contract with the Seattle Seahawks.

The Mims-Shaheed comparison is an apt one. Both are receivers by trade, and both have been decorated with accolades multiple times as a returner, though Mims's resume in that department is arguably stronger.

Shaheed is a two-time Pro Bowl returner, as is Mims. But Mims was also a second-team All-Pro in 2023, his rookie year, and a first-teamer in 2024.

Mims's camp could plausibly approach the Broncos with an asking price at $18 million annually. If that's the case, it would be very hard for the Broncos to justify the spend, especially with the number of other key players also hitting a contract year, and Bo Nix's eligibility for an extension opening up in 2027.

Salary Cap Constraints

Bo Nix, Evan Engram, and Marvin Mims Jr — Denver Broncos tight end Evan Engram (1) celebrates with quarterback Bo Nix (10) and wide receiver Marvin Mims Jr. (19) after scoring a touchdown against the Philadelphia Eagles. | IMAGN IMAGES via Reuters Connect

Because the quarterback market leaps forward annually, the Broncos will be incentivized to extend Nix as soon as he's eligible. That's next offseason, so considering how competent and savvy GM George Paton is, we can expect the Broncos to pounce on the Nix extension when the time comes, so long as he avoids major injury in 2026.

I would hazard to guess that Paton already has some kind of Nix framework in place behind closed doors. Such a deal for Nix could start at $40M/year and grow to as much as $50M/year, again, depending on how the 2026 season unfolds.

Nix's coming extension, though, wouldn't start hitting the books until his sixth NFL season, in all likelihood, so that could offer the Broncos a short-term window to be a bit more spendy. However, with Courtland Sutton's 2027 salary-cap hit checking in at $28.4 million and Jaylen Waddle's at $27 million, it may be hard for the Broncos to justify paying Mims $17- $18 million annually on an extension.

The Mims Caveat

Denver Broncos wide receiver Marvin Mims Jr. (19) runs after the catch against the Las Vegas Raiders during the second half at Allegiant Stadium. | IMAGN IMAGES via Reuters Connect

The one caveat here is Mims. How important is it to him to remain with the Broncos? Mims's fingerprints are all over the turnaround Sean Payton has orchestrated in Denver since 2023.

This offseason, Mims has expressed an awareness of the championship window the Broncos are currently in. This team has the chance to do some great things over the next few years, and if he wants to be a part of it, perhaps he won't go into negotiations with the Broncos looking for top-of-the-market money for wideout/returners.

Again, there's a line of players the Broncos have developed looking for an extension this summer, including Mims and cornerbacks Riley Moss and Ja'Quan McMillian. Not to mention two starters on each side of the ball: left guard Ben Powers and safety Brandon Jones.

The Broncos have said it themselves: they can't pay everyone. The question is, who among this handful of key players takes precedence for the Broncos?

I would think Mims has to rank near the top of Denver's extension priorities, not just because of his bona fides as a returner, but also the fact that he was the first draft pick of the Payton era, and he's been a tremendous team player, accepting whatever role the Broncos give him, and answering the bell when the coaches have called on him.

Mims has played running back for the Broncos. He's been the gadget weapon. He's changed the game by flipping field position as a returner, and put points on the board.

This next part is crucial: Mims has also risen to the occasion when he's had the opportunity to contribute as a receiver on offense, especially in clutch-time moments. When the Broncos' receiving corps was decimated by injuries in the playoffs last season, Mims stepped up, making huge plays in both games, and finishing as the team's leading postseason receiver.

According to Payton, Mims doesn't have to "convince" the Broncos to utilize him more on offense. Mims has proven himself to be a playmaker, but the Broncos have a lot of mouths to feed suddenly.

“Every time we continue to ask him down the field, give him these opportunities, he takes advantage of it," Payton said of Mims during mandatory minicamp. "He’s been very consistent. It’s just a matter of getting those touches. But very important games, even in Buffalo—I could point to a number of games. It’s a good problem to have, but he’s doing well.”

The Takeaway

The Broncos are in a pickle with Mims because he's way more important than his returner role appears on the surface, and on the open market, he could probably challenge and perhaps even eclipse Shaheed's $17M/year. When it comes to the NFL salary cap, though, where there's a will, there's a way.

Mims has admitted to being frustrated at times with his role (or lack thereof) on offense, but he's also remained adamant about staying in Denver beyond the 2026 season. He recently fired his agent and hired Athletes First to represent him, a big signal to the Broncos that he wants a new deal.

A willingess on Mims's part to palaver from a team-friendly perspective could really moves things along when the Broncos return to the building at the end of July for training camp. That is my hope.

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