Brock Osweiler played an integral role in helping the Denver Broncos stay afloat during the regular season last year after Peyton Manning battled poor performance and injuries, but the team opted not to re-sign the quarterback despite its need at the position coming into 2016.
During a radio interview with Dave Logan and Susie Wargin of KOA on Friday (via Pro Football Talk's Mike Florio), Broncos general manager John Elway explained the team's decision not to match the offer Osweiler received from the Houston Texans.
“You try to make the best decision when you have to make it. ... Excluding last night, we really felt good with the way everything’s fallen, the way we went into camp, and we’re really excited with the guys who are playing the position for us now," Elway said.
He also said "a lot of times those deals you don’t make are the best ones."
In the offseason, Osweiler agreed to a four-year, $72 million contract with the Texans that includes $37 million in guaranteed money over the first two years.
Through three games this season, Elway and the Broncos look justified in not breaking the bank for Osweiler. He has completed just 59.6 percent of his passes for 695 yards, three touchdowns and four interceptions.
Meanwhile, the Broncos are off to a 2-0 start. Quarterback Trevor Siemian has just one touchdown and three interceptions, but he's also completing 67.8 percent of his passes and has let Denver's outstanding defense work in his favor.
Per Over the Cap, Siemian is making just $525,000 this season, so even if he doesn't turn out to be the long-term answer at quarterback for the Broncos, they won't have to take a big cap hit if they make a change next year.
Given the way NFL teams value and obsess over quarterbacks, it's not a surprise the Texans paid Osweiler big money based on seven starts last season.
At least in this moment, the Broncos look like they made the better deal by going with a low-cost option at quarterback to see how things pan out.