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HOUSTON, TEXAS - NOVEMBER 02: Head coach Sean Payton of the Denver Broncos looks on prior to the game against the Houston Texans at NRG Stadium on November 02, 2025 in Houston, Texas. (Photo by Tim Warner/Getty Images)
The Denver Broncos just watched two of their most intriguing offseason dreams disappear in a matter of hours.
According to multiple reports, the Atlanta Falcons are officially placing the franchise tag on tight end Kyle Pitts. Additionally, the Dallas Cowboys are finalizing plans to tag wide receiver George Pickens. Both moves effectively take the pair off the open market before free agency even opens.
NFL Network’s Ian Rapoport reported that the Falcons are “planning to franchise tag standout TE Kyle Pitts.” This keeps him on a one year, fully guaranteed deal worth more than $15 million with the hope of working out a long term extension before the July 15 deadline.
Shortly after, Cowboys executive vice president Stephen Jones confirmed Dallas will finalize its tag for Pickens within the next week.
Zac Stevens
George Pickens and Kyle Pitts will be franchised tagged and thus not free agents. The Broncos will not have a chance to go after them on the open market.
“We think the world of him. We want him here,” Jones said. “We’ve franchised players before, obviously we want him here working with the team. It will work itself out in the coming weeks.”
For a Broncos team that had offseason dreams of adding one of the two, the door has now closed.
Broncos Dream Offensive Targets Come Off the Board
The Broncos entered the offseason with clear needs at both tight end and wide receiver. Both Kyle Pitts and George Pickens would have addressed those needs immediately and changed the dynamic of the offense.
At tight end, Pitts checked every box. The former No. 4 overall pick is coming off a bounce back 2025 season with 88 receptions for 928 yards and six touchdowns. At just 25 years old, he offers the rare blend of proven production and long term upside.
Instead, he will remain in Atlanta in an offense loaded with playmakers.
Pickens would have filled another obvious void. While Courtland Sutton remains reliable, Denver does not currently have a true elite WR1 who forces defenses to game plan around him every week.
Pickens was set to be one of the top wide receivers in this year’s free agent class before Dallas stepped in. With the franchise tag for wideouts expected to come in north of $28 million fully guaranteed, the Cowboys made sure he never had the chance to hit the open market.
For Denver, the idea of adding a dynamic tight end or one of the best WRs in the NFL quickly vanished. Two dream scenarios are now off the table before free agency even begins.
Where the Broncos Pivot in Free Agency
The good news for Denver is that flexibility is finally back.
The Broncos are no longer carrying the massive dead money tied to Russell Wilson’s contract, which frees up real spending power.
Denver is projected to have between $28.6 million and $28.9 million in available cap space, ranking 14th in the NFL. The team also carries just $1.2 million in dead money, one of the lowest totals in the league, with 51 players already under contract for 2026.
That financial reset gives general manager George Paton and head coach Sean Payton real options.
If Denver still wants to upgrade the backfield to support Bo Nix, names like Tyler Allgeier, Kenneth Walker III, and Breece Hall have surfaced.
At wide receiver, if a top tier splash is no longer realistic, players such as Alec Pierce could present a more attainable vertical complement to Courtland Sutton. Denver could also explore the trade market if the right elite WR becomes available.
Tight end remains another position to monitor even after missing on Pitts.
Established veterans such as Dallas Goedert, David Njoku, or even Cole Kmet could emerge as options depending on decisions around the league.
The dream targets may be gone, but the Broncos are not boxed in. With clean books and mid tier cap flexibility, Denver still has multiple paths to upgrade the offense.