Oct 13, 2019; Denver, CO, USA; Denver Broncos offensive tackle Garett Bolles (72) reacts after receiving a penalty in the second quarter against the Tennessee Titans at Empower Field at Mile High. Isaiah J. Downing-USA TODAY Sports

Broncos' 3 Best-Value Contracts of 2024 Revealed

Originally posted on Denver Broncos on SI | By Bob Morris | Last updated Jul 17, 2024 3:14 PM ET

Last offseason, the Denver Broncos spent quite a bit in free agency. Like any team, the Broncos want to get the most bang for their buck when it comes to veterans, whether they're players they drafted and then extended or free agents who played for other teams.

I'm continuing to examine the Broncos' best and worst-value contracts. I covered the three worst-value contracts, so now it's time to examine the three best. My evaluation will be based on Over The Cap's player valuation for 2023 compared to the salary are set to make.

This isn't about highlighting players who are on cheap deals. It's more about the good value the Broncos are getting in these players, relative to the money they're receiving and to what the rest of the league is paying for similar talent.

Josh Reynolds | WR

2023 OTC valuation: $9.2M

2024 salary: $4.25M

The Broncos signed Reynolds late in free agency this offseason and got him for a more-than-reasonable price. He's likely the No. 3 receiver entering training camp.

Reynolds had a quality season last year with the Detroit Lions. The Broncos added him for just a little more than what he received on his previous deal with the Lions.

What's good about this contract is not just the fact the Broncos aren't paying Reynolds a lot, but they are paying him less relative to what comparable receivers make. It's a low-risk deal with plenty of upside.

Zach Allen | DL

2023 OTC valuation: $14.5M

2024 salary: $15.25M

Allen turned out to be the Broncos' best free-agent signing of 2023. He signed a three-year deal for $45.75M with $32.5M fully guaranteed and delivered.

Allen's performance eased the minds of Broncos fans who loved Dre'Mont Jones, a 2020 third-round pick who signed with the Seattle Seahawks last year. Allen gave the Broncos a pass-rushing presence on the defensive line and was a good run defender as well, and he did this on a deal that doesn't even put him in the top 10 of interior defender contracts.

Garett Bolles | OT

2023 OTC valuation: $16.3M

2024 salary: $15.75M

Bolles has been a steady performer ever since he signed his four-year, $68M contract toward the end of the 2020 season. He has come a long way from his issues with penalties early in his career.

What's been especially good about Bolles is that he recovered from a broken leg suffered in 2022 and played well in 2023. He was rumored to be on the trading block at one point but proved he could still be a key player up front.

Bolles' salary is a good value when you consider what other offensive tackles make. If he continues to play well in 2024, he might get the Broncos to think about extending him for a few more years.

This article first appeared on Denver Broncos on SI and was syndicated with permission.

More must-reads: