The Broncos moved on from a franchise mainstay earlier this week by releasing Justin Simmons. While he will not be in place for 2024, P.J. Locke will be. The latter has agreed to a new Denver deal, Ian Rapoport of NFL Network reports. 
Rapoport notes Locke will receive $7MM in base compensation on a two-year deal. The maximum value sits at $9MM, which will mark a hefty raise from his previous deals. The former UDFA had amassed less than $4MM in career earnings across five seasons. He will now remain in Denver and avoid a trip to the open market.
Simmons’ release created the possibility that all three safeties which played signficant time in 2023 (he, Locke and Kareem Jackson, who was waived and finished the campaign with the Texans) could be gone by the 2024 campaign. However, a recent report noted interest from the team to work out a new deal in Locke’s case. The 27-year-old took on starting duties filling in for Jackson last year, and he will be counted on as a first-teamer moving forward.
Locke tallied 53 tackles, one interception, five pass deflections, two forced fumbles and three sacks last season. Each of those figures represented career highs, and he could have generated a notable market given his age and play down the stretch even with numerous veterans now available. After playing each of his 59 games with the Broncos, however, Locke has elected to take another new deal in lieu of gauging his outside value.
The Texas alum joins Caden Sterns and a pair of other recent draftees (Delarrin Turner-Yell, JL Skinner) in being on the books for Denver ahead of free agency. That group is severely lacking in experience compared to the Broncos’ longtime Simmons-Jackson tandem, so an addition at the position would come as no surprise. The team will have several options to choose from on the open market. Regardless of what happens on that front, though, Locke will face significant expectations ahead of 2024 and ’25.
The Broncos entered Saturday with roughly $30.5MM in cap space with free agency on the horizon. Locke’s new deal will lower that figure to a slight extent, but his continued presence will be welcomed on a Denver defense which will feature a number of new faces next year.
That re-signing was a LOCKE !!
The rebuild is on