NFL Rumors: Tim Patrick, Broncos Agree to New 1-Year Contract Ahead of Free Agency

Mike Chiari@@mikechiariFeatured Columnist IVMarch 8, 2024

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The Denver Broncos and wide receiver Tim Patrick agreed to a reworked one-year contract for the 2024 NFL season on Friday, according to Mike Klis of 9News in Denver and Parker Gabriel of the Denver Post.

Per Spotrac, Patrick had been set to earn a base salary of $9.5 million in 2024 and would have counted $15.5 million against the salary cap. Cutting or trading Patrick would have saved the Broncos $9.5 million against the salary cap, but they would have absorbed just over $6 million in dead cap as well.

The 30-year-old Patrick missed the entire 2022 season due to a torn ACL and the entire 2023 season after tearing his Achilles.

Before suffering two major injuries in back-to-back years, Patrick played four seasons for the Broncos on the heels of going undrafted out of Utah in the 2017 NFL draft.

Patrick spent much of the 2017 season on Denver’s practice squad and then got a chance to play fairly extensively in 2018.

His numbers were modest over his first two seasons, registering 23 catches for 315 yards and one touchdown in 16 games in 2018, followed by 16 grabs for 218 yards and no touchdowns in eight games in 2019.

By 2020, Patrick became a significant part of the offense, making 51 catches for a career-high 742 yards and six touchdowns in 15 games. He set a new career high in receptions in 2021 with 53, while also recording 734 yards and five touchdowns.

Patrick led the team in touchdown catches in both 2020 and 2021, plus he was second on the team in receiving yards in both years as well.

Last year, Sean Payton arrived as the team’s new head coach, and the offense is set to undergo another significant change in 2024 following the release of quarterback Russell Wilson.

Barring releases or trades, the Broncos have four talented wideouts in place in the form of Courtland Sutton, Jerry Jeudy, Patrick and 2023 second-round pick Marvin Mims Jr.

However, the decision to keep Patrick suggests the chances of trading Sutton or Jeudy to save salary cap space and add draft capital may have gone up.

By cutting Wilson, the Broncos are taking on an NFL-record $85 million in dead cap over the next two seasons, so reworking Patrick’s deal was a needed move.

It is unclear how close Patrick will be to the 2021 version of himself after missing the past two seasons, but when healthy, he was a quality deep threat, and he averages 14.0 yards per reception for his career.

Whether Denver signs a veteran quarterback in free agency or drafts a young signal-caller, Patrick could be a favorite target for them, especially on throws down the field.