Potential Red Flag Raised About Broncos’ $96 Million Decision

Getty Denver Broncos general manager George Paton.

The Denver Broncos are in a transition year. They have embraced a youth movement, but still roster several veterans in prominent positions entering the 2024 season. One player who fits in both categories is fourth-year cornerback Pat Surtain II.

The 24-year-old has already established himself as one of if not the best players at his position in the NFL, and he was rewarded as such with a four-year, $96 million contract extension.

It is a significant commitment that is not without its potential pitfalls.

“There’s no doubt that they’re betting on cornerback Patrick Surtain II with that new four-year, $96 million contract,” Bleacher Report’s Brad Gagnon wrote on September 6. “The guy has been good, but far from excellent, and many of his advanced numbers have declined. Bold move with the 24-year-old when it wasn’t necessarily a rush.”

Overpaying for a depreciating asset would be bad for the Broncos. But Surtain is respected by his NFL peers and one of the more productive corners in franchise history.

The Broncos still had two years before they had to make a contractual decision on Surtain. He is in Year 4 of his four-year, $20.9 million rookie contract.

Surtain was in line to play on his $19 million fifth-year option in 2025 before his extension.

Now, Surtain counts $9.6 million against the salary cap in 2024 and $8.7 million in 2025 before his extension kicks in with a $17.3 million charge in 2026. The Broncos have $6.7 million in cap space while carrying $76.5 million in dead money in 2024, per Over The Cap.

Their dead money drops to $32.1 million in 2025 and $0 in 2026, helping them to $52.2 million and $154.3 million in cap space in those years, respectively.

Broncos CB Pat Surtain II Looking to Prove Himself in 2024

GettyPat Surtain II #2 of the Denver Broncos.

Surtain allowed 59.3% completion for 660 yards and three touchdowns on 91 targets with the Broncos in 2023, per Pro Football Reference. He earned his second Pro Bowl trip, but it was also the second straight season he allowed a higher completion percentage than the year prior.

The former No. 6 overall pick of the 2020 draft, Surtain allowed 51% completion on 96 targets as a rookie and 58.4% on 77 targets in his All-Pro campaign in 2022.

He was critical of his performance in 2023.

“I’ve got a lot to prove,” Surtain said, per The Denver Gazette’s Chris Tomasson. “Last season wasn’t the year I wanted to have, so I’m just looking to have a better year. Looking to do what I do best.

“I feel like last year I wasn’t on top of the things that I’m really good at. Some of my technique wasn’t up to par like I wanted it to be. Last year was a good year, but I know how much potential, how much greatness I have in me. That’s just the main thing. Being able to fulfill that potential.”

Pro Football Focus gave Surtain a 69.0 grade for 2023.

He finished the campaign with a career-high 69 total tackles. His 12 pass deflections were the second-most of his career. However, Surtain had one takeaway. He had one interception and did not force or recover any fumbles.

Surtain recorded four interceptions as a rookie and had two in his second season. He has one career forced fumble (2022) and has never recovered one.

Sean Payton’s Former Team Could Unveil New QB vs Broncos

GettyHead coach Sean Payton of the Denver Broncos.

Things could come full circle in multiple ways for the Surtain’s Broncos in Week 7 of the 2024 season. A matchup with the New Orleans Saints could mark the debut of rookie Spencer Rattler.

“When do they go to Spencer Rattler if Derek Carr doesn’t have it together and they’re falling out of contention?” Gagnon wrote. “I’m eyeing Week 6 or 7 against Tampa Bay or Denver. Seriously…”

The Saints are Broncos head coach Sean Payton’s former team.

Rattler spoke highly of Payton after his private meeting with the Broncos head coach ahead of the 2024 draft during an appearance on the “Up & Adams Show” in April.

The Broncos selected Nix with the No. 12 overall pick while Rattler slipped to the Saints in the fifth round with the No. 150 overall pick. Payton’s Saints drafted four quarterbacks during his tenure (2006-2021), selecting two in higher slots than Rattler.

After skipping the position in 2021, the Saints have taken quarterbacks in the last two drafts.