Broncos can afford to give up first-round pick for Sean Payton

Giving up a first-round pick in the 2023 NFL Draft for former Saints head coach and Super Bowl XLIV champion Sean Payton is a risk the Denver Broncos can afford to take. 

Payton is under contract with New Orleans until 2024, meaning they will want compensation if he wants to take a job elsewhere.

Payton told FS1's Colin Cowherd on Monday, "I think ultimately the compensation for the Saints will be a mid or later first-round pick." 

The Broncos have enough early draft capital for a deal with New Orleans. Per Tankathon, the Broncos have the No.29 pick in the 2023 NFL Draft and two third-rounders, which they could trade for Payton. 

While giving up picks is less than ideal, the opportunity to land a distinguished coach like Payton is rare, especially since he likes the ownership group and is willing to work with Russell Wilson, per Mark Maske of The Washington Post. 

Denver's first-rounder also may not address its mounting offensive problems. According to Tankathon, the Broncos will select Illinois cornerback Devon Witherspoon, who's a solid prospect, but doesn't fill a need. The Broncos already have two young CBs (Patrick Surtain II and Damarri Mathis). 

Denver ranked last in scoring offense in 2022, so improving it needs to be their primary focus.

Payton is a well-regarded offensive mind. New Orleans ranked top five in total offense (2019 and 2020) during two of his last three seasons as Saints HC. 

Denver faces competition from Houston and Carolina, who are also pursuing the former Saints HC, according to NBC Sports ProFootballTalk. So, it needs to make an enormous offer to land someone who can shift the franchise's direction.