Broncos owner has 'high expectations' for 2024 season
Denver Broncos owner and CEO Greg Penner is optimistic about his club entering the 2024 campaign.
"It's a young team, but I've got high expectations for what we can accomplish," Penner said Thursday, according to Troy Renck of The Denver Post.
He added: "I'm encouraged by what I saw in training camp. ... I've been really impressed with what Sean (Payton, head coach) and George (Paton, general manager) have done in this offseason with the veteran players we brought in through free agency or trades, our approach to the draft."
The Broncos spent just under $65.5 million on free agents this offseason, the eighth-lowest figure in the league, according to Spotrac. Their signings included linebacker Cody Barton, wide receiver Josh Reynolds, and safety Brandon Jones. Denver spent the most money in the NFL on free agents in 2023.
Penner's team was active in the trade market, shipping wide receiver Jerry Jeudy to the Cleveland Browns while acquiring quarterback Zach Wilson and John Franklin-Myers in separate deals with the New York Jets.
The Broncos also moved on from Russell Wilson, releasing the veteran quarterback after signing him to a five-year, $245-million extension in 2022. The club will eat an NFL-record $85 million in dead money as a result.
Denver selected signal-caller Bo Nix 12th overall out of Oregon to replace Wilson. The 24-year-old finished third in Heisman voting in his final campaign with the Ducks, throwing for 4,508 yards with 45 touchdowns and only three interceptions.
Nix was named the Broncos' starter for the season opener against the Seattle Seahawks.
"I've been really impressed with his poise and maturity," Penner said of Nix. The owner added, "I think he's got some incredible traits. It was great to see how he played in the first two preseason games."
Denver has failed to make the playoffs in eight straight seasons, compiling a 52-79 record during that stretch.