There are multiple Denver Broncos who have been signed as free agents since Sean Payton was hired as head coach in 2023. One of those players, defensive end Zach Allen, was recently extended, but others still have at least a year left on their current deals.
Today, I’m examining Over The Cap‘s valuation tool to identify the Broncos’ major free-agent signings made in the past three offseasons and those who have yet to be extended.
OTC valuation gives you an idea about how much value a team gets for a player, relative to the contract he signed. While not a perfect measure, it brings some insight into determining whether a player was worth the deal he signed.
Let’s look at the most notable Broncos added in free agency over the past three offseasons. The valuations are based on the first five games of the season and do not include the New York Jets game in Week 6.
McGlinchey was one of the more significant free-agent signings of 2023, the offseason in which the Broncos spent a lot of money. When McGlinchey first signed, his play wasn’t up to par with his deal. More recently, he has played better, though he still isn’t delivering elite play.
Still, it’s good to see McGlinchey improve his play since he first joined the Broncos. If this keeps up, he should return for 2026, which would be the fourth year of the five-year deal he originally signed.
Last season, Powers didn’t quite lived up to the deal he signed back in 2023. But this season, through the first five games, he was turning in his best season since joining the Broncos.
It’s unfortunate that Powers got injured because he was playing well. His presence was definitely missed when the Broncos faced the Jets in Week 6.
One thing to note about Powers’ valuation is that it will drop with each game he misses. But if he plays well once he returns to the lineup (hopefully in December), he should be back with the Broncos in 2026.
Last season, Jones delivered a lot of value on the deal he signed in the 2024 offseason. This season, he’s delivering a similar return — not as high as last year, but still well above his APY salary.
At the rate things are going, Jones is arguably a value signing for the Broncos. It’s been great to see him deliver strong play since he joined the team.
It does beg the question, though: should the Broncos extend him? He will enter the final year of his contract next season, and the Broncos may have to ask themselves whether Jones should stick around for a bit longer.
Through five games, Hufanga has proven his worth. The Broncos took a chance on signing him, given his health issues last season, but he’s been delivering.
It’s worth noting that Hufanga has arguably improved from game to game. That means he has a chance to raise his OTC valuation and give the Broncos a bigger return on his deal.
Give credit to Broncos GM George Paton for this one. Not every signing has worked out (Dre Greenlaw, for example, has yet to see the field), but the ones that have worked out have paid off in a big way.
Engram was off to a slow start in 2025 and, thus, hasn’t delivered as much as expected on the two-year deal he signed this offseason. The good news is that he played well in Week 5 and did some good things in Week 6. If this keeps up, he should raise his OTC valuation.
Because Engram is on just a two-year deal, the Broncos will need to look at the tight end position again next season. While a good player, he probably isn’t the long-term solution.
Next time we look at OTC valuation, we’ll look at players still on their draft pick contracts.
