NFL Rumors: P.J. Locke, Broncos Agree to 2-Year, $7M Contract After Simmons Exit

The Denver Broncos signed safety P.J. Locke to a two-year deal on Saturday, according to NFL Network's Ian Rapoport.

Rapoport noted that Locke's contract has a base value worth $7 million and a maximum value of $9 million. The 27-year-old will likely step into a full-time starting role with the Broncos during the 2024 season after the team released Pro Bowl safety Justin Simmons on Thursday.

After playing most of his snaps on special teams throughout the first three years of his career on the Broncos, Locke blossomed on Denver's first-string defense in 2023. In 12 appearances, he recorded 53 tackles, five passes defensed, three sacks, and two forced fumbles.

Although he missed the Broncos' first four games of the year due to a toe injury, Locke's strong performances in the middle of the season earned him starts in each of the Broncos' final six regular-season games. Pro Football Focus gave him an adequate grade of 64.0 for his efforts in 2023, allowing 15 receptions on 25 targets.

A return to the organization doesn't come as a large surprise, as Chris Tomasson of the Denver Gazette reported that Denver was "looking to re-sign" Locke on Thursday.

While he may not be able to completely replace Simmons on the field, it's certainly possible that he could have a breakout season in his first year as a full-time starter. Locke and former fifth-round pick Caden Sterns are currently projected as the Broncos' starting safety tandem in 2024.

They'll be expected to maintain a Denver secondary that allowed just 191.9 passing yards per game in 2023, the No. 9 mark among all NFL teams.