Insider Reveals Price Tag on Potential Broncos Free Agent Target

The Denver Broncos have a big hole at running back. Even head coach Sean Payton and GM George Paton pointed to the running back position as a key area of need earlier this week at the NFL Combine.

RJ Harvey is the only running back currently under contract for 2026, although Paton expressed an interest in re-signing J.K. Dobbins. The Broncos aren't expected to tender restricted free agent Jaleel McLaughlin, although the plan is to re-sign Tyler Badie to a one-year deal, per recent reports.

The Broncos need to do more than bring back Dobbins (if it happens) and Badie. This team needs a major upgrade and a fail-safe at running back.

With the names hitting the free-agent market, the Broncos would be remiss if they didn't explore them. At the top of the list, there's Breece Hall, Kenneth Walker III, and Tyler Allgeier.

If they hit the market, Hall and Walker could be looking for north of $10 million/year. Meanwhile, Allgeier wants to get paid, but he's not seeking double-digits annually, according to The Athletic's Josh Kendall.

"Atlanta’s backup running back will be seeking a contract in the neighborhood of three years, $22 million this offseason," Kendall wrote.

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Could Be a Bargain

Breece Hall, Tyler Allgeier, and David Montgomery of the New York Jets, Atlanta Falcons, and Detroit Lions, respectively. — Breece Hall, Tyler Allgeier, and David Montgomery of the New York Jets, Atlanta Falcons, and Detroit Lions, respectively, run with the ball. | Christopher Szagola / David J. Griffin / Allan Dranberg / IMAGO

That looks like a relative bargain compared to what Hall and Walker could be seeking. To put it in perspective, the Broncos gave Melvin Gordon $16 million over two years back in 2020, an annual average of $8M.

Six years later, a running back with significantly less wear on his tires is looking for $7.3M. Now, Allgeier wants the security of a three-year deal, but considering his age (about to turn 26) and usage, it's a fair number.

Allgeier's career-high was his rookie year, when he reset the Atlanta Falcons' rookie rushing record with 1,035 yards and three touchdowns. Last season, he rushed for 514 yards and eight touchdowns, though his yards-per-carry average dropped to a career-low 3.6.

That's something that a team like the Broncos will have to get to the bottom of: why Allgeier turned in his least-efficient performance in a contract year. But it's not easy playing second fiddle to a running back of Bijan Robinson's ilk.

The Broncos have to do something at running back. Harvey showed flashes of greatness as a rookie, but his down-to-down efficiency was severely lacking, especially after the Broncos turned to him as the starter when Dobbins was lost to a season-ending injury.

In a Perfect World

In an ideal world, the Broncos re-sign Dobbins and sign a free agent like Allgeier. Dobbins simply can't stay healthy, but when he's on the field, he's a top performer, so his next contract will reflect that.

Even if it's a one-year, incentive-laden deal for Dobbins, it wouldn't break the bank. Probably nothing north of $4M/year. That would leave plenty of room to fit a $7.3M/year contract under the cap, especially with the Broncos being finally free of the Russell Wilson albatross.

This Allgeier update is an important development for the Broncos. Free agency opens on March 11, with the 'legal tampering window' opening two days prior.

It wouldn't be a surprise to see the Broncos make a push for Allgeier, who played his college ball in the Rocky Mountains at BYU.