Are Broncos overemphasizing free-agency spending?

Lavish spending shows the Denver Broncos believe it is the key to building a Super Bowl contender. However, it's not the ultimate solution and could reek of desperation.

Per Spotrac, the Broncos already spent $236M in free agency, the most in NFL. It included exorbitant free-agent contracts for RT Mike McGlinchey and DL Zach Allen.

It's not a surprise to see the franchise quickly expend resources because its second-year ownership group, the Walton-Penner Family, is the NFL's wealthiest, according to Forbes. 

Since the Broncos went 5-12 and missed the playoffs for a seventh consecutive season, the owners probably want to avoid a stain on their reputation. 

Yet they might be overspending, particularly on the McGlinchey deal (a five-year, $87.5M contract with $35M guaranteed). "His $17.5M per-year average is just $500K less than what Lane Johnson makes in Philadelphia," wrote NFL.com's Kevin Patra. 

Johnson is a four-time Pro Bowler, and Pro Football Focus gave him an 84.8 grade last season, fifth-best among OTs. McGlinchey has not made a Pro Bowl and posted a 70.3 PFF grade last season, 35th among tackles.
The front office must realize high spending doesn't equate to a championship. The last three teams that led in free-agency spending (Jacksonville, New England and Miami) all failed to win a Super Bowl and won one playoff game combined.

While free agency can help a team quickly fill holes and upgrade certain positions, the heart of a team is built via the draft and keen development. The Broncos have no first- or second-round picks in the 2023 NFL Draft, so they still need to acquire more draft capital.

Denver can bounce back next season, but showing everyone the money is a quick fix, rendered useless when a team faces complex problems.