Getty Pittsburgh Steelers cornerback Levi Wallace.
The Denver Broncos have one of the NFL’s elite cornerbacks with Patrick Surtain II — the other side of the field doesn’t inspire as much confidence.
The Sporting News’ Vinnie Iyer called the Broncos’ signing of cornerback Levi Wallace as the team’s worst offseason move on June 4.
“(The Broncos) gave Wallace only two years at $8 million, but they ended up with one of the league’s shakiest starters who will be exploited plenty opposite the non-traded Patrick Surtain II,” Iyer wrote.
While Wallace did receive a 2-year, $8 million contract, it wasn’t with the Broncos. It was with the Pittsburgh Steelers in March 2022. Denver is actually getting Wallace at a bargain-basement price for a starter with a 1-year, $1.29 million contract signed on April 22.
That still might be too much.
Levi Wallace Doesn’t Seem Like Long-Term Solution at CB
Wallace was a serviceable cornerback in 2022 but got picked on in 2023.
According to PFF, Wallace graded out at an anemic 57.8 percent in 2023 and his 2 interceptions were a bit deceiving because he was targeted 71 times, making him one of the most-targeted cornerbacks in the NFL.
Wallace took a big “L” early in the season when he missed a wide-open tackle on San Francisco 49ers running back Christian McCaffrey on a 65-yard touchdown run — done in front of the home crowd it was hard to forget for Steelers’ fans.
“He’s a guy you probably don’t want starting … if Levi Wallace is your fourth corner on the depth chart, you’re in a pretty good spot,” PFF’s Sam Monson said in October 2023. “If he’s one of your top two, you’re going to have some problems because he can’t match up with those best receivers.”
Over two seasons with the Steelers, Wallace started 18 games with 6 interceptions and 24 pass deflections.
Wallace won two national championships at Alabama and made the Buffalo Bills as an undrafted free agent in 2018. He played for the Bills for four seasons before signing with the Steelers in 2022.
Broncos Could Take Huge Step Back in 2024
The Broncos were a mild surprise with an 8-9 record in 2023 under first-year head coach Sean Payton but are projected to take a big step back in 2024 — BetMGM has Denver’s over/under wins total set at 5.5 on June 5.
Only the New England Patriots were lower at 4.5 wins.
Denver is a franchise that’s fallen on hard times in recent years. They haven’t made the playoffs since winning Super Bowl 50 following the 2015 season, haven’t had a winning record since going 9-7 in 2016 and the eight wins in 2023 were their highest win total since 2016.
The Broncos are looking for bargain-level players like Wallace thanks in large part to a disastrous financial situation and kneecapping themselves when it comes to the NFL draft. That’s thanks in large part to one of the worst sign-and-trades of all time when they traded two first-round picks, two second-round picks and a fifth-round pick for Seattle Seahawks quarterback Russell Wilson in March 2022.
The Broncos signed Wilson to a five-year, $245 million contract extension with $165 million in guaranteed money, followed by two cringe-worthy seasons of Wilson cosplaying an NFL starting quarterback until he was released in March 2024.
The fallout from that deal now leaves the Broncos with $85 million in dead money over the next two seasons.