Former New Orleans Saints head coach Sean Payton. Andrew Wevers-USA TODAY Sports

Broncos have zeroed in on Sean Payton, but there’s one potential holdup

There’s no question that after the failings of Vance Joseph, Vic Fangio and Nathaniel Hackett, the Denver Broncos want to hit a home run with their next head coaching hire.

And according to a report from Fox Sports’ Colin Cowherd, the Broncos reportedly want to hire Sean Payton. Quarterback Russell Wilson has even reportedly told Broncos owners that Payton is the coach he wants.

But according to Broncos insider Mike Klis of 9News, even if Payton accepts the job, the real question is can Denver afford the former AP NFL Coach of the Year?

“[The Broncos] have a budget; I do not think that they’re going to go $25M and I don’t think they’re going to get into a bidding thing.” Klis said during a recent radio interview with 104.3 The Fan. “It comes down to, ‘Do you want the job or not? And do you want it because of money or do you want it because you want to be a head coach and win that second Super Bowl and help this franchise here in Denver?’”

NFL analyst Jordan Schultz of The Score has suggested Payton’s price tag could be higher than what the Broncos might feel comfortable dishing out.

“[Payton] wants at least $20M a year,” Schultz said. “But that’s also the going rate for a top tier head coach.”

Payton is likely looking to top the list of the highest-paid head coaches in the NFL in 2023, which include New England’s Bill Belichick ($20M per year), Seattle’s Pete Carroll ($15M per year) and Los Angeles’ Sean McVay ($14M per year), according to Pro Football Network.

More must-reads:

TODAY'S BEST
Josef Newgarden wins Indianapolis 500 with a thrilling last-lap pass
Route 66: Star guards score 33 each as Mavericks take 3-0 WCF lead
Unlikely hero helps Rangers steal Game 3 over Panthers
Braves superstar will miss remainder of 2024 season with torn ACL
Naomi Osaka finishes strong, wins first-round match at French Open
Grayson Murray's parents release heartbreaking statement on cause of death
Watch: Matt Vierling's walk-off HR caps wild game in Detroit
NFL reporter reveals why CeeDee Lamb isn't rushing to sign new contract
Celtics are being vindicated for acquiring Jrue Holiday
Christopher Bell wins abbreviated Coca-Cola 600, Kyle Larson's double attempt foiled by rain
Southampton earns Premier League promotion in world's richest game
Astros RHP day-to-day with forearm discomfort
Mavericks rookie takes brutal knee to the head in Game 3
White Sox manager absolutely shreds team after latest loss
Angels slugger suffers what might be baseball's most bizarre injury of 2024 season
Watch: Unlikely Rangers playoff hero nets two goals vs. Panthers
Celtics put Kristaps Porzingis' return from injury on hold
Watch: Panthers' Sam Reinhart nets two goals in first period vs. Rangers
Watch: Big crash ensues on Lap 1 of 2024 Indianapolis 500
Red Sox release well-traveled right-hander