Broncos' 3 Worst-Value Contracts of 2024 Revealed

The Denver Broncos are still paying the price for handing out some questionable contracts.

August 19, 2023; Santa Clara, California, USA; Denver Broncos guard Ben Powers (74) during halftime against the San Francisco 49ers at Levi's Stadium. / Kyle Terada-USA TODAY Sports

Last offseason, the Denver Broncos spent quite a bit in free agency. This offseason, the Broncos have been frugal, primarily because of the cash owed to Russell Wilson, who was released before the start of the new league year.

Like any team, the Broncos want to get the most bang for their buck when it comes to veterans, whether they're players they drafted and then extended or free agents who played for other teams.

In which veterans are the Broncos getting good value, relative to what they're paid? And in which veterans are the Broncos not getting enough?

I'm going to first examine the three worst-value contracts the Broncos have, based on Over The Cap's player valuation for 2023 compared to the salary are set to make.

Keep in mind that a player who doesn't have a good contract value doesn't mean he's bad. It simply means the Broncos didn't get enough out of the player

relative to what he is expected to make.

Mike McGlinchey | OT

Oct 12, 2023; Kansas City, Missouri, USA; Denver Broncos offensive tackle Mike McGlinchey (69) lines up against the Kansas City Chiefs during the game at GEHA Field at Arrowhead Stadium. / Denny Medley-USA TODAY Sports

2023 OTC valuation: $8.3M

2024 salary: $15M

McGlinchey represented the biggest investment the Broncos made in free agency in 2023. He signed a five-year, $87.5M contract that effectively tied him to the Broncos for three seasons.

McGlinchey's first season with the team was a mixed bag. While he was a good run blocker, he struggled with pass protection. While some of it could be blamed on quarterback play, plenty of it was his responsibility.

McGlinchey needs to clean up his pass protection issues to justify the investment the Broncos made in him. While improved QB play will help, McGlinchey needs improvement himself.

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D.J. Jones | DL

Dec 24, 2023; Denver, Colorado, USA; Denver Broncos defensive tackle D.J. Jones (93) following his sack fumble recovery in the first quarter against the New England Patriots at Empower Field at Mile High. / Ron Chenoy-USA TODAY Sports

2023 OTC valuation: $3.4M

2024 salary: $10M

Jones signed a three-year, $30M contract with the Broncos back in 2022 and played well, though he was solid overall. Still, he might have received more money than expected for a defensive lineman whose strength is in run blocking.

In 2023, Jones didn't play as well as he did a year earlier. I had thought the Broncos might cut him to save some cash and cap, but the Broncos decided to keep him.

It's not a given that the Broncos will move on from Jones after training camp, so as he enters the final year of his deal, it would be good to see him bounce back.

Ben Powers | OG

Oct 29, 2023; Denver, Colorado, USA; Denver Broncos running back Javonte Williams (33) celebrates his touchdown with guard Ben Powers (74) in the first quarter against the Kansas City Chiefs at Empower Field at Mile High. / Ron Chenoy-USA TODAY Sports

2023 OTC valuation: $5.9M

2024 salary: $12M

Powers was another notable free agent signing in 2023. He received $27M fully guaranteed in the four-year, $52M contract he received.

Powers had his ups and downs in the 2023 season. He needs to show more consistency, week to week, to justify the commitment the Broncos made to him.

To be fair, the contract Powers signed didn't put him in the top tier and looks great when compared to deals handed out to free-agent guards this offseason. But it would be good to see Powers improve and give the Broncos better value out of his contract.

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