One of the more incredible things about the Denver Broncos going from a playoff team to a playoff contender over the last few seasons has been them doing so with one hand tied behind their backs.
The built-in (and self-inflicted) disadvantage came in the form of $85 million in dead cap money spread out over the 2024 and 2025 seasons — money which could have been split up so many ways it boggles the mind.
In 2026, for the first time in years, the Broncos will be on an even playing when it comes to free agency and the salary cap. This is bad news for opponents, considering they went 14-3 overall and earned the No. 1 seed in the AFC Playoffs without that extra cash.
Denver is already approximately $45 million under the cap — a number that will continue to grow — and only have approximately $1.2 million in dead cap space.
The answer seems pretty clear what they should do with all that extra money, and it’s get quarterback Bo Nix someone really, really good to throw the ball to.
Colts Star About to Make Huge Splash as Free Agent
Of the best free agent wide receivers available, only Dallas Cowboys star George Pickens stands above 25-year-old Indianapolis Colts wide receiver Alec Pierce. This means Pierece is actually probably the No. 1 option because Pickens will almost certainly be forced to play on the franchise tag in 2026.
Pierce, a 2022 second round pick (No. 53 overall) out of Cincinnati, has led the NFL in yards per catch the last 2 seasons. He put everything together in 2025 with career highs of 47 receptions for 1,003 yards and 6 touchdowns in 15 games.
He would also be the perfect compliment to Pro Bowl wide receiver Courtland Sutton, who has passed 1,000 receiving yards each of the last 2 seasons and signed a relatively modest (for a No. 1 wide receiver) 4-year, $92 million contract extension before this season.
Bleacher Report’s Kristopher Knox put the 6-foot-3, 212-pound Pierce at No. 9 on his list of the Top 50 NFL free agents in the 2026 cycle, with a projected 4-year, $85 million contract headed his way.
“Don’t be surprised if Colts receiver Alec Pierce commands nearly as much attention on the open market as George Pickens this offseason,” Knox wrote on Wednesday, January 7. “While Pierce isn’t a truly elite receiver — and won’t get No. 1 receiver money, as a result — he’s an explosive difference-maker with a great combination of size and speed … Teams looking for a big-play threat will be extremely high on the former second-round pick out of Cincinnati, whose next contract may surprise some folks.”
Broncos Have Tried to Draft WR2 Option
Since being hired before the 2023 season, Broncos head coach Sean Payton has drafted one position more than any other, with 4 wide receivers over his first 3 drafts.
In that time, 2023 second round pick Marvin Mims has become a 2-time NFL All-Pro return specialist. Payton got a fourth round pick and a seventh round pick back in exchange for 2024 seventh round pick DeVaughn Vele, in a trade with the New Orleans Saints in August.
Denver’s 2024 fourth round pick wide receiver Troy Franklin, has quietly had a breakout year with 65 receptions for 709 yards and 6 touchdowns but has been benched in favor of rookie wide receiver and 2025 third round pick Pat Bryant (31 receptions, 378 yards, 1 touchdown) at times this season.
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