Ranking Value of Broncos' Veteran Contracts: Worst to Best

NFL teams each year sign veteran players to new contracts, whether it's extending their own or signing free agents from other teams.

But whenever a team makes such a move, it's important to maximize the value it gets in return. This is particularly true when it comes to veterans who get high-dollar contracts.

The Denver Broncos have 15 players who are under veteran, multi-year contracts. I decided to look at those 15 players and rank them in terms of value, from worst to best value.

I only ranked these contracts because these are multi-year deals in which the player, his agent, and the team negotiated the contract terms with the expectation that the player will be with the team for more than one season.

For players still under draft pick contracts, the dollar amount is set, so there's far less to negotiate. This holds true with fifth-year options and any restricted or exclusive rights free-agent tenders. Hence, I didn't rank these contracts.

I applied the same principle to any player under a one-year deal, because the player isn't tied to the Broncos beyond the 2022 season. If things don't work out in 2022 with the player, the Broncos have no further commitment to him after the season.

Of course, some of the players under multi-year, veteran contracts could be traded or perhaps cut after training camp. Thus, this list assumes these players will be with the Broncos for 2022.

Let's go over these players, from worst to best value.

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15. Ronald Darby | CB

The Broncos gave Darby a three-year, $30 million contract last year. He was coming his first season in which he was active for every regular-season game.

In 2021, Darby missed six games because of injury. When he saw the field, he was solid, giving up 38 completions on 70 targets to receivers he defended.

Still, one expects more from a player who received $11M in cash in a single season. Darby will need to play at a higher level in 2022 or the Broncos will likely want to renegotiate his 2023 salary.

14. Mike Purcell | DL

Purcell got a three-year, $11.5M deal from the Broncos back in 2020. While not a lot of money, it was a fair amount for a nose tackle whose strength is primarily run defense.

In 2021, Purcell played 13 games and had 33 tackles, but just one for loss. He was much better in 2019, when he had 48 tackles, eight for a loss, in 13 games.

We've talked about Purcell as a possible training camp cut, and that's still a possibility if other players show they can fill his role at a lower cost.

13. Randy Gregory | OLB

The Broncos were looking for an edge rusher to pair with Bradley Chubb and believe they have found one in Gregory, who has spent the past five seasons with the Cowboys.

Gregory is coming off his best season as a pro, with 29 quarterback pressures and six sacks in 12 games. The Broncos thought enough of Gregory to give him a five-year, $70M contract with $28M fully guaranteed.

While the Broncos didn't re-set the market with the deal, it's still a considerable sum and carries a lot of risk, particularly because Gregory has never played a full season. Time will tell if this signing works out, but for now, it can't be considered good value.

12. Sam Martin | P

Martin signed a three-year, $7.05M with the Broncos in 2020. He's averaged 46 yards per punt.

However, Martin has been inconsistent from week to week. In 2021, he had as much as 53.3 yards per punt against the Chiefs in Week 12, to as little as 31.33 yards per punt in Week 9 against the Cowboys.

Although not every big return can be pinned on Martin, his contract makes him one of the 10 highest-paid punters in the NFL. While he doesn't need to be elite to justify his pay, one would hope for more consistency from him.

11. D.J. Jones | DL

A free-agent signing earlier this year, Jones has spent the past five seasons with the Niners, where he had 126 tackles in 61 games and nine quarterback hits.

The Broncos gave Jones a three-year, $30M contract with $20M fully guaranteed. That type of money indicates the Broncos believe he can be a vital part of the defense.

Is Jones worth the money? If you look at his numbers, you may have your doubts. This signing carries less risk than Gregory, but it's still a good amount of money. As with Gregory, time will tell the true tale of his contract value.

10. Graham Glasgow | IOL

Glasgow signed a four-year, $44M contract back in 2020. He has started 20 games in his first two seasons with the team, with injuries cutting his 2021 season short.

The veteran renegotiated his 2022 base salary, bringing it down to $3.1M with $1.4M that can be earned through incentives. He's expected to compete for a starting job on the offensive line.

His 2022 value depends on whether or not he earns a starting job and keeps it. If he does, the Broncos get good value in return for the season. If not, it won't be so good. Either way, it's not likely Glasgow returns in 2023 when he's due $9.4M that year.

9. Mike Boone | RB

Boone signed a two-year, $3.85M contract with $2.6M in guarantees last season. He was active for eight games and mostly played special teams.

The deal itself is in line with what you would expect to pay for a veteran mostly limited to special teams. The only downside is the time Boone missed because of injury last year.

If Boone stays healthy in 2022 and contributes more to special teams and offense, the Broncos will get more value in return. After all, he's due just $1.25M in base salary this year.

8. Brandon McManus | K

McManus got a four-year extension in 2020 with $17.2M in new money. For the past two seasons, McManus has remained consistent, hitting 82.4 percent of his field goals in 2020 and 83.9 percent in 2021.

Though McManus missed four field goals of 50 yards or more in 2021, he had just nine attempts and made five. Though he made 10 such field goals in 2020, that came on 15 attempts.

McManus delivers solid value at the position and, as long as he remains productive, he figures to be with the Broncos for years to come.

7. Garett Bolles | OT

Bolles had his best season as a pro in 2020, getting second-team All-Pro honors, and it earned him a four-year, $68M extension with $38M fully guaranteed.

Bolles wasn't as good in 2021, but was still a steady performer. Though he had six total penalties, that was just two more than he had in 2020 — and much lower than the 12 he had as a rookie, and what he had in 2018 and 2019, in which he had 10 each season.

Time will tell how Bolles fares under a new coaching staff, but while he didn't have an elite season in 2021, he still played well enough to justify his contract.

6. Justin Simmons | S

After playing under the franchise tag in 2020, the Broncos got Simmons signed to a long-term deal last season. He received a four-year, $61M contract with $32.1M fully guaranteed at signing, which made him the highest-paid safety in the NFL at the time.

Simmons had another quality season, giving up 32 completions on 54 targets, breaking up 12 passes, and intercepting five. He arguably had a Pro Bowl-worthy season, but missed out in the voting.

Still, Simmons has been a steady performer the past few seasons, plus he hasn't missed a start in the past four seasons. His deal may not be a bargain, but his level of play arguably justifies the money he's received.

5. K'Waun Williams | CB

A seven-year veteran, Williams has spent most of his career as a slot cornerback, with 27 passes defensed and four interceptions in 46 games. He signed a two-year, $5.2M contract with the Broncos this year with $2.5M fully guaranteed.

Williams will be 31 years old, but given his solid play the past couple of seasons, he could have been in line for a little more money than he received. A player of his talents could be justified in asking for $4M to $5M per year.

Williams has yet to start for a full season, so that may have played a part in the deal he received. However, if he delivers 17 starts and plays well, the Broncos might have a bargain on their hands.

4. Tim Patrick | WR

Patrick has emerged as a key player the past two seasons, stepping into the lineup after other receivers were lost to injury. He had 51 receptions for 742 yards and six touchdowns in 2020, then 53 receptions for 734 yards and five touchdowns in 2021.

Patrick received a three-year, $30M extension late last season with $13M fully guaranteed. It was a little surprising, given that he might have made more money had he hit free agency.

How much the Broncos get in return this season remains to be seen, given that the Broncos are hoping other receivers will stay healthy. That's the only reason why I didn't rank this contract higher, even if it arguably came in below market value.

3. Josey Jewell | LB

Jewell had his best season as a pro in 2020, starting all 16 games and tallying 113 tackles. His 2021 season was cut short after a torn pectoral in Week 3.

The Broncos thought enough of Jewell to bring him back on a two-year, $11M contract with $6M fully guaranteed. It represented a good signing at a time that some off-ball linebackers were getting much more.

If Jewell plays at the level he did in 2020, this contract could look like a bargain. As things currently stand, it's solid value for a player who has done good things.

2. Russell Wilson | QB

It feels like cheating to put Wilson on this list. After all, the Broncos traded for Wilson and are only responsible for two years of base salary, which totals $41M.

Still, any time you get a proven starting quarterback for $20.5M per season, you have a terrific deal. Of course, the Broncos won't get him at that salary forever — if he delivers as expected, he'll be in line for a lot more money.

Because the Broncos acquired Wilson in a trade, I didn't rank it at the top of the list. However, we should recognize the value he represents at the salary the Broncos are paying and enjoy it while it lasts.

1. Courtland Sutton | WR

Sutton has proven he can be a top wide receiver, as evidenced by his 2019 season in which he caught 72 passes for 1,112 yards and six touchdowns, even as the Broncos went through three different starting quarterbacks that season.

Though Sutton wasn't as good in 2021, GM George Paton thought enough of him to give Sutton a four-year, $60M extension with $34.9M fully guaranteed. That deal looks great, particularly when compared to the deals other receivers got this offseason.

Sutton's deal even came below Kenny Golladay's four-year, $72M deal with $40M fully guaranteed from the Giants last offseason. Wilson's arrival to the Broncos gives fans a lot of optimism that Sutton can produce at a high level. If that happens, his deal will be a clear bargain for the Broncos.

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