Report: Sean Payton Expected to Make at Least $17M per Year in New Broncos Contract

Sean Payton is set to become one of the highest-paid head coaches in the NFL when he officially signs his deal with the Denver Broncos.

Per Mike Klis of 9News.com, Payton is expected to sign a five-year contract worth "somewhere between" $17 million to $20 million per season.

ESPN's Adam Schefter reported on Tuesday that the Broncos agreed to send the No. 30 pick in the 2023 NFL draft and a 2024 second-round pick to the New Orleans Saints for Payton and a 2024 third-round pick.

It can be difficult to track how much coaches are actually making, but Pro Football Talk's Mike Florio noted in February 2022 that New England Patriots head coach Bill Belichick is believed to be making at least $20 million annually.

Per Kurt Badenhausen of Sportico (h/t Zachary Knerr of Pro Football Network), Pete Carroll, Sean McVay, Mike Tomlin, Andy Reid, John Harbaugh, Josh McDaniels and Kyle Shanahan are the only other coaches who will make at least $10 million for the 2023 season.

Payton was always going to command a significant salary to return to the sidelines. He spent this season working with Fox as an NFL analyst on a deal that paid him at least $10 million, per Michael McCarthy of Front Office Sports.

Things looked pretty dire for the Broncos in their search for a new head coach before they made the deal with the Saints to land Payton. They eliminated Raheem Morris, David Shaw, Ejiro Evero and Jim Caldwell from contention over the weekend.

Per NFL Network's Ian Rapoport and Tom Pelissero, Broncos owner and CEO Greg Penner flew to Ann Arbor, Michigan, to meet in person with Jim Harbaugh last week. The meeting came after it was announced Harbaugh was going to stay at Michigan for the 2023 season.

Woody Paige of the Denver Gazette reported on Monday that San Francisco 49ers defensive coordinator DeMeco Ryans told the Broncos he was no longer interested in their head-coaching vacancy.

Ryans was hired as head coach of the Houston Texans on Tuesday.

The process of elimination left Payton as the last marquee name still available. The Broncos were able to make it happen by giving up significant draft compensation just to earn the right to negotiate a new deal with him.

Payton is apparently going to cash in on his leverage with a lucrative contract. He will be tasked with turning around a Broncos team that was arguably the biggest disappointment in the NFL last season. They finished 5-12 after acquiring Russell Wilson from the Seattle Seahawks and missed the playoffs for the seventh consecutive season.