A select number of positions have seen their free agent values soar in recent years, including quarterback, receiver and defensive tackle. Others have dropped in terms of interest shown around the league and the willingness of teams to make lucrative long-term commitments, though. 
Safety can be placed in the latter category with several veteran producers at the position yet to land a deal. That will likely continue up to the start of training camps, the point when unsigned veterans often join new teams. CBS Sports’ Jonathan Jones reports this year’s group of free agent safeties are in line to primarily receive low-cost, incentive-laden contracts this summer.
While that update comes as little surprise given how the opening waves of free agency unfolded, it nevertheless underscores the financial landscape of the safety spot in most cases. Xavier McKinney landed $16.75MM in annual average value on his Packers deal, one of the few at the position which was signed in short order in March. McKinney secured $23MM guaranteed, a figure which at one point trailed only Derwin James (Chargers) and Minkah Fitzpatrick (Steelers) for locked in compensation.
More recently, Antoine Winfield Jr. became the league’s highest-paid defensive back on his Buccaneers extension (four years, $84.1MM). The pact took the place of his franchise tag and includes $45MM guaranteed in full. While the top of the safety market has thus seen movement amongst players entering their prime, the position has generally not seen its veteran members receive interest from teams for big-ticket extensions.
The likes of Justin Simmons, Jamal Adams, Eddie Jackson, Quandre Diggs, Jordan Poyer and Marcus Maye were all released in cost-shedding moves this offseason. The latter two have since signed with the Dolphins, but the others remain on the market. Simmons – whose 30 interceptions since his arrival in 2016 lead the NFL – has not been linked to a prospective suitor since signs pointed to a Broncos reunion being unlikely.
Like with all other veterans, the safeties still looking for a deal will likely settle for a one-year accord this summer in the hopes of rebuilding their value in 2024. Three quarters of the NFL’s teams currently have at least eight figures in cap space, so the top options could try to command something of a bidding war if multiple suitors emerge, but such a scenario would be unlikely at this point. In general, it will be interesting to see if this offseason represents an outlier at the safety spot or the continuation of a larger financial trend at the position.
I understand why most of these guys are still there but I always thought Simmons was pretty darn good. Is he washed up ?
I don’t think Simmons is washed up. He had a good year in ’23. His “problem” is that he’s 31, real life young, NFL life old.
Teams are likely hesitant to give him a multi year deal or high guaranteed $ bc they fear his skills will/ already have diminished and his body has taken a beating after 8 seasons, 118 games, and just over 600 tackles.
That is my best guess, anyway
I would resign Simmons if I’m Denver. A lower base but incentive based contract.
Denver had to let Simmons go because of their insane Wilson resolution, but they really do need him. I think that we’ll see the effects of his release on the defense, even with Lock’s emergence last year as a starter.
Perhaps Simmons is holding out hope for another call from them. I don’t see how they could do it, though, because they wouldn’t be able to offer anything remotely close to what players like him would expect.
I mean couldn’t they back load a 2 or 3 year deal and give him the veteran minimum this year or some solid guaranteed money on the end . I know the other guy mentioned his age but I don’t think he had lost much of a step . Two or three year deal to keep a very solid veteran presence.
If he’s willing to take a one year deal or a one year with a 2nd year option, I’d grab Simmons if I was Green Bay. With all the injuries that occur during the season and the relative inexperience at the position besides McKinney, why not take a shot of you are truly hoping for a deep run this season.
I actually would love the Lions to grab Simmons to pair up with Kerby Joseph, but I think they may put Arik Robertson at Nickel and have Brian Branch start at safety. Iffy Melanfonwu had a decent year but he struggled in coverage, so having Simmons would be ideal. But I don’t see Holmes going that way.