Broncos, Saints FA Marquez Callaway Agree to Contract amid Jerry Jeudy Trade Rumors

Free-agent wide receiver Marquez Callaway signed with the Denver Broncos on Friday.

ESPN's Jeremy Fowler was first to report the deal.

Callaway, who spent the first three seasons of his NFL career with the New Orleans Saints, is set to reunite with new Broncos head coach Sean Payton, who was his coach in New Orleans in 2020 and 2021.

The signing comes amid rumors that the Broncos are fielding trade offers for some of their other wideouts.

ESPN's Dan Graziano reported two weeks ago that some NFL teams believed the Broncos would be willing to trade Jerry Jeudy, Courtland Sutton or KJ Hamler, although the asking price is high.

While a wide receiver trade could still be forthcoming if the price is right, Mike Klis of 9News reported last week that the Broncos have not seemed interested in trading Jeudy or Sutton despite receiving calls from several teams.

The hiring of Payton was a move meant to salvage the offense following a miserable 2022 season for quarterback Russell Wilson under Nathaniel Hackett.

Denver gave up a ton of assets to acquire Wilson in a trade with the Seattle Seahawks, but he struggled through the worst season of his career in 2022, completing just 60.5 percent of his passes for 3,524 yards, 16 touchdowns and 11 interceptions.

Payton's offensive expertise should provide a boost to Wilson, and the arrival of Callaway could help as well.

The Saints signed Callaway as an undrafted free agent in 2020, and after a modest rookie season, he broke out in 2021.

Starting 11 of the 17 games he appeared in, Callaway set career highs across the board with 46 receptions for 698 yards and six touchdowns.

Payton stepped down after the 2021 season and was replaced by Dennis Allen. In the wake of the coaching change, Callaway's role was diminished significantly, and he finished with just 16 catches for 158 yards and one touchdown in 14 games in 2022.

The Broncos already have a stacked receiving corps headlined by Jeudy, Sutton, Hamler and Tim Patrick, the latter of whom is returning after missing the entire 2022 campaign with a torn ACL.

NFL Network's Tom Pelissero reported Thursday that Hamler suffered a partially torn pectoral muscle that could keep him out between four and six months, meaning he may miss the start of the regular season.

That creates a potential spot and opportunity for Callaway, who has already enjoyed success under Payton in the past.