Here's What Might be Keeping Broncos from Signing a Free-Agent RB or WR

The Denver Broncos have made a couple of free-agent signings in recent weeks, though not at the positions some fans might think are most important. Running back might be the Broncos' biggest roster need.

Some might cite Denver's need for a wide receiver and may find the current field of free agents attractive, particularly when it comes to experience. The question is whether it makes sense to sign a running back or wide receiver at this point or if it’s preferable to wait until after the draft.

One thing to keep in mind is that if the Broncos wait until after the draft to sign more free agents, they won’t count toward the compensatory pick formula. The Broncos might be in line for two seventh-round comp picks, based on projections at Over The Cap, but those picks are not guaranteed.

However, a bigger reason not to sign a player before the draft is because there’s no telling how the draft board might fall. The Broncos might very well find somebody who can help out sooner than later at either position.

When it comes to running back, it’s a deep class in the draft, and chances are good that the Broncos will find an immediate contributor. Also, the Broncos don't necessarily need an every-down back but one to pair with Jaleel McLaughlin, who's a good back to have in tandem with another, while Audric Estime will still get his chance to show he can be quality depth.

As the free-agent running back class stands right now, the likes of J.K. Dobbins, Cam Akers, and Trey Sermon are available, but all three played on low-cost deals last season. Furthermore, their previous teams haven’t brought them back for one reason or another. It’s worth asking whether those players can actually provide help if their previous teams chose not to retain them.

Personally, I would be open to signing Dobbins, but not until after the draft. If the Broncos can find a running back who can help immediately, signing Dobbins isn’t as necessary, though I could see the case for having him for competition for depth behind McLaughlin and a draft pick.

As for wide receiver, it’s easy to get caught up in the available names, but again, there are likely reasons why these players haven’t been signed. Elijah Moore wasn’t bad last year, but he hasn’t quite lived up to expectations.

The Broncos have receivers such as Troy Franklin and Devaughn Vele, who have much room for improvement, but the question is whether Moore would truly provide an upgrade over either player. And while I have looked at Moore as a player who might be worth a one-year deal, if the Broncos believe Franklin and Vele can improve, it’s probably better to stick with them.

As for veterans such as Keenan Allen, Tyler Lockett, and Amari Cooper, all of them are older players, and they might be trying to get deals similar to what Stefon Diggs got from the New England Patriots. I don’t see the Broncos being prepared to give any of them a three-year deal worth more than $60 million, even if it means Denver would be on the hook for a single season as the Patriots are with Diggs.

If the Broncos are prepared to pay an older receive significant money, I see them more likely to extend Courtland Sutton than to pay somebody like Allen, Cooper, or Lockett.

Again, this does not mean the Broncos shouldn’t sign a free agent, but they can wait until after the draft to make such a decision. They can also take their time to see how Franklin and Vele develop, then revisit the idea as training camp approaches.

As we have seen in the past, roster moves are far from finalized once the draft takes place. The Broncos have added players after the draft and close to training camp as they evaluate the roster and its progress. There’s no need to rush into a deal at this time.