The Denver Broncos have 12 unrestricted free agents. Some of those players will be re-signed in March, but many more will be allowed to explore other opportunities. As good as the Broncos were in 2012, not many of their free agents were major contributors—that’s a good thing.
It’s unlikely the Broncos will be overly active in free agency when it comes to signing free agents from other teams, but they have the cap space to explore their options. John Elway will focus most of his attention on adding depth through the draft, and those draft picks will likely replace many of Denver’s free agents.
Free agency comes in three waves. It’s the first wave of free agency, where all the best players are signed, where the Broncos are likely to be quiet. The Broncos only have a couple of their own players to address in the first wave.
The second wave of free agency comes after the draft and includes veterans who still have a gas left in the tank, good scheme fits and special-teams contributors. The Broncos might consider re-signing a few or their veterans if they don’t add a quality player at those positions through the draft in the second wave.
The final wave of free agency comes just before the season when teams cut down to 53 players. Bad teams are most active during this period, so the Broncos need not apply.
By this point, the Broncos will have made decisions on all of their free agents. Many of the veterans who have been re-signed might actually be released here to make room for a younger players.