Ian Hartitz breaks down the latest NFL free agency news—Evan Engram signs with the Broncos.

Denver Broncos Sign Evan Engram

The biggest whale in the TE free agency market has a new home: Evan Engram signed with the Broncos on a two-year, $23 million deal with $16.5 million fully guaranteed. The $11.5 million annual salary ranks 10th at the position, just behind the likes of Pat Freiermuth ($12.1 million) and Dalton Schultz ($12 million).

The former first-round pick didn't exactly live up to the hype during his first five seasons with the Giants, but he underwent a bit of a rebirth during his three years in Jacksonville.

Engram among 40 TEs with 100-plus targets from 2022-24:

• Receptions: 234 (2nd)
• Receiving yards: 2,094 (5th)
• Yards per route: 1.52 (13th)
• Targets per route: 22.2% (8th)

Overall, Engram averaged a robust 11.6 PPR points per game—the eighth-highest mark at the position. It's rare to see 6'3", 234-pound athletes with this sort of ability to move in space.

Fantasy Football Impact of Evan Engram To Broncos - Bo Nix, Courtland Sutton, and More

Now, this production did come alongside longtime TE-whisperer Doug Pederson, but there's reason to believe Sean Payton has big plans for Engram in Denver. After all, Payton has barely been able to go a single press conference without bringing up his desire to land a "joker" pass-catching talent, something that GM George Paton brought up back at the combine.

"I know we’re searching for the ‘joker.’ It’s kind of like the Loch Ness Monster, trying to find a goddang ‘joker.’ But I’ve played Sean [Payton]’s teams that had ‘em, and they’re hell.”

Obviously, the Broncos haven't managed to field a player up to Payton's standards at TE over the past two seasons: Denver TEs rank dead last in targets by a whopping 37 pass-game opportunities since 2023.

Still, Engram spent more total snaps in the slot or out wide (185) than inline (172) last year, indicating that a role as a de facto "big slot" is firmly on the table. The reality that the only proven commodities in the Broncos WR room are Courtland Sutton and (to a lesser extent) Marvin Mims adds credence to the idea that Engram should have a full-time receiver role from day one.

31 in September, Engram might not be quite as fleet-footed these days, but historically, the TE position has aged more gracefully than others in fantasy land. The below chart indicates the percentage of top-12 fantasy producers by age from 2014 to 2023 in terms of PPR points per game (min. 8 games).

It's possible the Broncos still look to add a younger option at the position in the draft like Colston Loveland or Tyler Warren, but if not? Engram will have a triple-digit target upside inside an ascending offense that managed to rank 10th in scoring last season. Not too shabby of a situation for someone who has worked as a legit fantasy TE1 during his career.

Don't get carried away and expect Engram to post Jimmy Graham-esque top-two numbers or anything, but Engram deserves to be in the next tier of pass-catchers capable of supplying upside TE1 heights. Being ranked in the same group as fellow veterans like Mark Andrews, Jonnu Smith, and David Njoku makes a lot of sense, and Engram will have a case as the top dog should the Broncos mostly refrain from adding too much additional pass-game competition in the upcoming months.

Congrats to Engram, to Bo Nix, and especially to Sean Payton, who can now get back to watching The Dark Knight in peace.

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