The Broncos signed WR Marquez Callaway to a one-year deal. He spent his first two NFL seasons under new Broncos HC Sean Payton in New Orleans, tallying 21-213-0 and 46-698-6 receiving lines. Callaway joins Jerry Jeudy, Courtland Sutton, Tim Patrick, and K.J. Hamler in Denver's WR room. Jeudy and Sutton have been bandied about as trade candidates (although Payton recently shot those rumors down), while Patrick (ACL) and Hamler (pectoral) are rehabbing major injuries. There's a chance that opportunity opens up for Callaway in Denver, although we'd still consider him no more than a last-round flier in best-ball drafts for now.

Broncos QB Russell Wilson underwent arthroscopic surgery on his right knee earlier this offseason, according to NFL Network's Ian Rapoport. The procedure addressed an issue "that had nagged [Wilson] for a few seasons," per Rapoport. Wilson has already resumed training since the surgery and is expected to be available for OTAs. We'll keep an eye on him the rest of the offseason, but it doesn't sound like this news will impact Wilson's 2023 campaign. The 34-year-old has missed five games over the last two years after playing in 144 straight regular-season games to open his career.

Broncos HC Sean Payton tells NFL Network's Tom Pelissero that people shouldn't buy into the trade rumors surrounding WR Jerry Jeudy or WR Courtland Sutton. "We're not trading those two players," Payton said. We could simply take the coach at his word. Of course, these rumors have been swirling for a while now, with no Broncos leadership previously swatting them down. If you're doing best ball drafts right now, then you should treat Jeudy and Sutton as though they'll be in Denver this season. That said, we had no idea a year ago at this time that A.J. Brown and Marquise Brown were about to get traded on Night 1 of the NFL Draft. A month ago, we had no idea that D.J. Moore was about to move to Chicago. So be wary of treating any NFL team decision maker as though he's telling the full truth over the next five weeks.

Broncos WR K.J. Hamler recently underwent surgery to repair a partially torn pectoral he suffered while training, according to NFL Network's Tom Pelissero. Hamler is expected to be sidelined for four to six months, which means he'll miss the entire offseason program and potentially training camp. It's just another setback for a guy who's piled up a lengthy injury history. Hamler is off the redraft radar at this point -- and his dynasty value is fading fast.

The Broncos have agreed to a two-year, $7.5 million deal with RB Samaje Perine. This contract also includes an additional $1 million in potential incentives. Perine makes a lot of sense for the Broncos given the uncertain recovery timeline for RB Javonte Williams, who tore his ACL in Week 4 of 2022 vs. the Raiders. Even if Williams is able to recover in time to play a majority of the 2023 season, Perine stands to shoulder a decent amount of the rushing workload in a Sean Payton-led offense that historically uses a committee approach at RB. The Broncos have invested heavily in their offensive line this offseason as well, inking large contracts with T Mike McGlinchey and G Ben Powers so far. How much this move impacts fantasy will depend on the health of Williams, but this move is far from insignificant, especially if the Broncos don't spend any more on the RB position this offseason.

The Broncos have agreed to a three-year deal with DL Zach Allen. ESPN's Adam Schefter reports that it's for $45.75 million total, including $32.5 million guaranteed. That comes on the same day that Denver watched DL Dre'Mont Jones get a bit more from Seattle. Allen progressed across four seasons with the Cardinals. He was enjoying his best campaign yet before a hand injury knocked him out for the final four games. Allen's career-high 20 QB hits over just 13 games suggest upside beyond his career-high 5.5 sacks. Allen also tallied a career-high 10 tackles for loss. The move to Denver reunites him with former Cardinals DC Vance Joseph. Allen could emerge as a value pick in 2023 IDP drafts. We like him as a top-30 D-lineman in our dynasty rankings.

The Broncos are re-signing LB Alex Singleton to a three-year, $18 million deal that includes $9 million guaranteed, according to ESPN's Adam Schefter. It's a surprising move. Singleton went undrafted in the 2015 draft class and didn't play in an NFL game until 2019. He bounced into and out of the Eagles lineup through 2020 and 2021 before they let him walk. Even last season, his playing time fluctuated throughout the season. Singleton is coming off his best pro season, though, and has been a tackle monster whenever on the field. Fortunately, we fantasy players don't have to worry about whether this is a good move for the Broncos. We can just take advantage of the tackle collection when he's on the field. So Singleton now looks better than expected for dynasty rosters. And he's a candidate for the top 24 when our 2023 IDP rankings roll out.

Free agent QB Jarrett Stidham and the Broncos have agreed to terms on a two-year contract worth $10 million. This deal includes $5 million in guaranteed money and locks Stidham into serving as QB Russell Wilson's backup. Stidham started two games with the Raiders at the conclusion of the 2022 NFL season, tallying 584 passing yards with 4 TDs and 3 INTs. He should carry some appeal as a depth option in superflex leagues should any injury occur to Wilson in what should be a much-improved offense under new HC Sean Payton. Not all backup QBs are worth spending too much time thinking about for fantasy purposes, but Stidham is fairly intriguing here if nothing else.

Broncos RB Javonte Williams is “on track” to suit up for Week 1, per GM George Paton. Speaking at the Combine, Paton shared that Williams has progressed to jogging following an October ACL/LCL tear. We’ll see how the 3rd-year RB fits in new HC Sean Payton’s offense. Regardless, look for the Broncos to add a depth piece or two this offseason. Note that Denver currently holds only 5 draft picks — and none until Round 3 — in the 2023 NFL Draft.

ESPN's Adam Schefter reports that the Broncos and Saints are "finalizing compensation" that would allow Sean Payton to become Denver's HC. The big potential winner here, fantasy wise, is QB Russell Wilson. He'll come off easily the worst performance of his career to work with the HC that helped Drew Brees become Drew Brees in New Orleans. Of course, Brees was just 27 in his 1st season with New Orleans, after the Chargers allowed his rookie contract to expire and Brees to hit the open market. Russell Wilson just completed his age-34 season. Plenty of surrounding talent should remain, with WRs Courtland Sutton and Jerry Jeudy still under contract, TE Greg Dulcich entering Year 2, and WR Tim Patrick and RB Javonte returning from knee injuries. Among his 15 years as Saints HC, Payton had 13 consecutive offenses rank among the top 10 in total yards. His teams also finished top-10 in points 12 times.

Update: Schefter reports that Denver is sending its 2023 first-rounder and 2024 second-rounder to the Saints for the rights to Payton and New Orleans' 2024 third-rounder.

Broncos WR Jerry Jeudy (ankle) logged full practice on Friday and doesn't carry an injury tag ahead of Week 18 vs. the Chargers. Jeudy ranks as the WR8 overall in PPR since Week 13 with 39 targets in that span. The Chargers' defense presents a tough draw, ranking 5th-best in Football Outsiders' pass defense DVOA over the last 3 weeks. Volume alone should keep Jeudy within WR2 consideration in fantasy lineups this week.

Broncos WR Jerry Jeudy (ankle) practiced in a limited capacity on Thursday for the 2nd day in a row. Friday's report will give us a better idea about Jeudy's chances for suiting up in Week 18 vs. the Chargers. Check back again tomorrow for further analysis.

Broncos WR Jerry Jeudy (ankle) logged limited participation at Wednesday's practice. It's too soon to tell if Jeudy is in jeopardy of missing Week 18 vs. the Chargers. Check back as we learn more about his status as the week evolves.

Raiders QB Jarrett Stidham (right elbow) practiced fully on Wednesday. This is certainly a step in the right direction considering Stidham only managed to log limited participation on Tuesday. We'll keep an eye on this situation in case anything changes. For now, it sounds like Stidham will be under center in Week 18 vs. the Chiefs on Saturday.

Raiders QB Jarrett Stidham (right elbow) was limited in Tuesday's practice. That throwing arm must be a little sore after chucking 34 passes in last week's overtime loss to the 49ers. Stidham should be under center for Saturday's finale vs. the Chiefs, but we'll keep an eye on him over the next few days.

Broncos RB Marlon Mack will miss Sunday's finale vs. the Chargers with the hamstring injury he suffered in Week 17, according to insider Mike Klis. That'll leave Denver's backfield to Latavius Murray and Chase Edmonds. Murray tallied 12 carries and 6 targets to Edmonds' 7 carries and 3 targets in last week's loss to the Chiefs.

Broncos QB Russell Wilson scored twice on the ground in Sunday's 3-point loss to the Chiefs. He totaled 27 rushing yards on 4 carries, including the TDs from 16 and 4 yards out. Wilson added 222 yards and a TD (plus an INT) passing, finding TE Albert Okwuegbunam for a 25-yard score. WR Jerry Jeudy led the team in targets (8) and catches (7) but collected just 38 yards. WR Courtland Sutton followed with a 4-44 receiving line on 6 looks. Denver closes out vs. the Chargers at home in Week 18.

Broncos RB Marlon Mack hurt his hamstring in the 1st quarter of Sunday's game vs. the Chiefs and is questionable to return. His absence leaves Denver's backfield to Latavius Murray and Chase Edmonds.

Broncos WR Jerry Jeudy (ankle) is active for today’s game vs. the Chiefs. He was limited in practice all week and listed as questionable, so it’s safe to assume that Jeudy won’t be at 100% today. See where Jeudy sits in the Week 17 WR Rankings.

Broncos TE Greg Dulcich (hamstring) has been placed on IR. He'd already been ruled out for Sunday's game vs. the Chiefs and will now also miss the finale. Dulcich dealt with a few different injuries this year but flashed when healthy, finishing with a 33-411-2 line in 10 games. He currently ranks 18th in Pro Football Focus receiving grade and 21st in yards per route run among 39 TEs with 30+ targets. We're not optimistic about QB Russell Wilson's chances of bouncing back in 2023, but Dulcich will be worth considering as a TE2 in early 2023 fantasy football drafts.