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DENVER, COLORADO – OCTOBER 26: Head coach Sean Payton of the Denver Broncos looks on during the first quarter in the game against the Dallas Cowboys at Empower Field At Mile High on October 26, 2025 in Denver, Colorado. (Photo by Dustin Bradford/Getty Images)
The Denver Broncos may have a realistic path to landing their so-called “dream” free agent.
After months of speculation that Denver would be priced out of the market for Devin Lloyd, a new contract projection has completely changed the conversation.
It could open the door for a major defensive upgrade.
Pro Football Focus recently projected Lloyd to land a three-year, $48 million deal in free agency.
That $16 million annual average is significantly lower than earlier rumors suggesting he could command north of $20 million per year.
If that number sticks, the Broncos suddenly have a real shot at Lloyd.
Why Lloyd Suddenly Makes Sense for Broncos
Linebacker has quietly become one of the Broncos’ biggest offseason question marks.
Team captain Alex Singleton and rotational contributor Justin Strnad are both set to hit free agency.
Meanwhile, Dre Greenlaw has no guaranteed money remaining and could be a cap casualty after an injury-marred season.
That leaves the possibility of Denver replacing nearly 1,800 snaps at the position.
Lloyd wouldn’t be a short-term fix. He’d step in as a true difference-maker and someone the Broncos could build around.
The 27-year-old former first-round pick is coming off a breakout 2025 season in Jacksonville, earning Pro Bowl honors and Second-Team All-Pro recognition.
He posted 81 tackles, five interceptions and multiple game-changing plays, including a 99-yard pick-six against Patrick Mahomes.
Across four NFL seasons, Lloyd has totaled 436 tackles, nine interceptions, 26 pass deflections and 3.5 sacks.
Lloyd’s range and ball skills would be an upgrade.
Especially for a Broncos defense that has struggled to consistently defend tight ends and running backs in coverage.
Broncos Face Risk and Real Upside
Off-ball linebacker isn’t traditionally viewed as a premium position.
Committing significant money there always comes with debate, especially when Denver still has needs at running back, wide receiver and tight end.
There’s also the “contract-year breakout” question.
Jacksonville declined Lloyd’s fifth-year option before his career-best season, raising fair concerns about long-term consistency.
Still, at $16 million per year instead of $20-plus million, the risk becomes far more manageable.
Vance Joseph’s defense demands versatility from its linebackers, players who can cover, blitz and close in space.
Lloyd fits that mold better than any available option on the market.
If the Broncos truly believe their window is open and want to build on last season’s success, this kind of bold, calculated move makes sense.
The Broncos enter the 2026 offseason in a much healthier financial position than they’ve been in years.
Denver is projected to have between roughly $27 million and $35 million in available cap space, ranking around the middle of the league in flexibility.
This gives the Broncos the ability to be aggressive in free agency, and Lloyd may be the perfect place to start.
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