The Denver Broncos made their offseason splash on Tuesday, acquiring standout wide receiver Jaylen Waddle in a blockbuster trade with the Miami Dolphins. Adding a top-tier pass catcher had been festering on Denver’s to-do list for quite a while, and they are now finally able to cross off that need, albeit by shipping away its first-round pick (No. 30 overall) along with third- and fourth-rounders as well to secure Waddle (and a fourth-round pick).
Despite coming off a 14-3 season that was good enough to earn the Broncos their first division title in a decade, along with the No. 1 seed and a trip to the AFC Championship, the franchise needed a move of this magnitude in an increasingly competitive AFC. Waddle’s arrival raises the ceiling of an offense that will need as much firepower as it can acquire as it gears up to return to the NFL’s final four by slaying some of the top quarterbacks that the league has to offer in 2026 and beyond.
The move is also a clear signal from the Broncos that they believe their Super Bowl window is wide open at this very moment, and for good reason. After all, had Bo Nix not suffered a season-ending ankle injury in the final seconds of their divisional round win over Buffalo, they conceivably could’ve won the AFC Championship — that was played at Mile High — and reached Super Bowl LX this past season.
With all that in mind, let’s use this Waddle blockbuster as a springboard into an examination of this Super Bowl window Denver has thrust itself into. Mainly, we’ll highlight some big mile markers on the horizon from a roster perspective, while also detailing what the balance of power looks like in what is arguably one of the more competitive divisions in the NFL.
How much longer does Bo Nix have on his rookie deal?
One of the major advantages the Broncos have at the moment is Nix playing on his rookie contract. Having a quarterback like Nix, who has won 10-plus games and made the playoffs in each of his first two seasons in the NFL and brought his team to the AFC Championship last season, while earning pennies (in NFL terms) on the dollar, is the biggest bargain in sports.
For instance, Nix accounted for just 1.5% of Denver’s salary cap last season, while a couple of his division counterparts, like Patrick Mahomes (9.8%) and Justin Herbert (13.2%), who are both playing on large extensions, chew off a much bigger slice of the pie. Over the next two seasons (through 2027), Nix will take up no more than 1.8% of the Broncos’ salary cap, according to Over the Cap.
|
2026 |
$1,075,000 |
2,487,106 |
$5,076,318 |
1.7% |
|
2027 |
$1,190,000 |
$3,333,159 |
$5,922,371 |
1.8% |
Because Nix was a first-round pick in 2024, he is subject to the fifth-year option in 2028, which is fully guaranteed if picked up, and it would seem likely, as things stand today, that Denver will utilize the club option. A decision on whether or not to pick up that option will come next offseason, which is also when Nix will become extension eligible. So, the true bargain for the Broncos at QB comes in 2026 and 2027, and then starts to dissolve after that.
This is notable because having a quarterback so cheap allows the Broncos to make trades, as the one struck on Tuesday with Waddle, who comes to Denver amid a three-year, $84.75 million extension he signed in 2024. If Nix were on his second contract by now, this trade would become a bit trickier to pull off from a financial standpoint.
So, it’s wise for GM George Paton and Co. to be aggressive now before a Nix extension makes things more cumbersome.
Jaylen Waddle trade grades: Broncos make long-awaited offseason splash, Dolphins embrace rebuild
Carter Bahns
What other free agents are on the horizon
Denver has done a solid job locking up some of their key pillars over the last few years, particularly on the defensive side of the ball. Back in September, the club inked star pass rusher Nik Bonitto to a four-year, $106 million extension that has him under team control through the 2029 season. Meanwhile, Patrick Surtain II is also signed through 2029 on a four-year, $96 million extension he signed in 2024. On offense, wideout Courtland Sutton is under contract through 2029 after signing a four-year, $92 million extension last July, and All-Pro right guard Quinn Meinerz signed a four-year, $80 million extension that has him under team control through the 2028 season.
In 2027, left guard Ben Powers and wideout Marvin Mims are two notable unrestricted free agents. In 2028, right tackle Mike McGlinchey would be hitting the open market at nearly 34 years old.
It’s the 2029 offseason that could be interesting for Denver. That, in theory, would be the first year of Nix’s second contract, and it also aligns with some central figures in the current core hitting free agency, like Waddle, Garett Bolles, and Meinerz.
Assessing the balance of power in the AFC West
The AFC West is one of the more intriguing divisions in the NFL. While the Broncos were able to sit atop the division in 2025 and just improved after landing Waddle, the Kansas City Chiefs are the elephant in the room. With jayMahomes recovering from a torn ACL he suffered in Week 15, Kansas City is one of the biggest wild cards of the upcoming 2026 season.
On top of Mahomes’ recovery, the Chiefs are coming off a down year in 2025, where they were going to miss the playoffs regardless of Mahomes’ injury. After trading Trent McDuffie to the Rams, the club has two selections at the 2026 NFL Draft. The Chiefs also just added a boost to the offense in free agency by signing Super Bowl MVP Kenneth Walker III to bring burst to the backfield. If Mahomes can make remarkable strides in his rehab, K.C. should be a factor in the AFC playoff landscape. If Mahomes is slow to recover and/or the Chiefs are still sluggish like we saw last year, 2026 could be a transition year for them.
As for Los Angeles, the Chargers were stymied by injuries last season, particularly along the offensive line, with tackles Joe Alt and Rashawn Slater suffering season-ending injuries. With those two expected to be back by the start of next year, Justin Herbert should have better protection, especially after L.A. revamped the interior in free agency with center Tyler Biadasz and guard Cole Strange. The Chargers allowed the fifth-fewest yards per game and the ninth-fewest points per game over the regular season, so they could be a thorn in Denver’s side if the pieces fall properly into place for Herbert and the offense.
Meanwhile, the Raiders are still a few years away from contending, but they will be inching closer toward being a factor in the division this offseason when they inevitably select Indiana quarterback Fernando Mendoza with the No. 1 overall pick. So long as the Heisman Trophy-winning QB lives up to the hype, there is talent in Las Vegas’ offense to springboard this rebuild. That said, it’ll still take a couple of seasons before they officially enter the conversation.
So, when we look at Denver, the window is the here and now for them to repeat as division champions and push toward a Super Bowl berth. With the Chiefs still reeling from Mahomes’ ACL tear and faced with a retooling of their core, along with the Chargers still trying to find their way, these next two seasons may be their clearest lanes for a deep run, particularly with Nix on his rookie deal. That’s precisely why this Waddle deal shouldn’t come as much of a surprise.
They know the window is right now.
