The Broncos opted not to use the franchise tag on defensive lineman Dre’Mont Jones before Tuesday afternoon’s deadline, an expected outcome that moves the 26-year-old one procedural step closer to free agency.
Jones and Denver still have a week’s worth of exclusive negotiating window remaining, but Broncos general manager George Paton indicated last week at the NFL Scouting Combine that Jones is “going to hit the market” and that he’s had “very positive” conversations with Jones and his agent.
“I’ve had a number of conversations with Dre’Mont. Dre’Mont is a very good player,” Paton said. “He’s one of our core players on defense.”
The franchise tag numbers for defensive ends ($19.73 million) and defensive tackles ($18.94 million), however, proved too rich for Denver to protect Jones from becoming a free agent.
Had the Broncos tagged Jones, they would have had to remain in salary cap compliance immediately. Currently, the franchise has around $9 million in salary cap space, according to Over the Cap data, so another $10 million or so would have had to come off its 2023 books. While the Broncos have the flexibility to clear that money and substantially more, they opted against doing so just yet.
Jones realistically was the only candidate to receive the tag from the Broncos this offseason. The 2019 third-round pick from Ohio State tied a career-best with 6.5 sacks in 2022 and has 22 in his career to go along with 28 tackles for loss and 38 quarterback hits.
By not tagging anybody, all 17 of Denver’s prospective unrestricted free agents will hit the market officially at 2 p.m. March 15 barring any last-minute agreements. The NFL’s 48-hour negotiating window for free agents opens at 2 p.m. Monday, at which point free agents and their representatives are able to talk directly with teams about contract terms.
The Broncos have used the franchise tag in recent history to prevent players from hitting the market and to create more time to find common ground on a long-term contract. The most recent example is safety Justin Simmons, who played on the tag in 2020 and then was tagged again in the spring of 2021. That only lasted two weeks in March, however, before the sides agreed on a four-year extension.
Before Simmons, all four players former executive John Elway franchise tagged eventually signed contract extensions: edge Von Miller (2016), wide receiver Demaryius Thomas (2015), left tackle Ryan Clady (2013) and kicker Matt Prater (2012).
A handful of teams did use the franchise tag this year, including Las Vegas (running back Josh Jacobs), Dallas (running back Tony Pollard), the New York Giants (running back Saquon Barkley), Jacksonville (tight end Evan Engram), Washington (defensive lineman Daron Payne) and Baltimore (quarterback Lamar Jackson).
The tag numbers for running backs ($10.09 million) and tight ends ($11.35 million) are the lowest among non-special teams positions this year.
Denver this week will also have to make decisions on what level of tender to extend its four restricted free agents — quarterback Brett Rypien, corner Essang Bassey, safety P.J. Locke and long snapper Jacob Bobenmoyer — and whether to offer contracts to exclusive rights free agent linebackers Jonas Griffith and Jonathan Kongbo, punter Corliss Waitman and offensive lineman Quinn Bailey.
Broncos sign Humphrey. The Broncos on Tuesday signed free agent wide receiver/tight end Lil’Jordan Humphrey, according to the league’s transaction wire. Humphrey, 24, caught just two passes for New England in 2022 before he was released Nov. 15.
He played the first three years of his career for Sean Payton in New Orleans, making this a reunion of sorts in Denver. Humphrey (6-foot-4, 225 pounds) had his best season as a pro in 2021, catching 13 passes for 249 yards and a pair of touchdowns in 10 games (four starts).
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