The Denver Broncos signed Randy Gregory to a five-year, $70 million contract last season. He managed six games (three starts) in his first campaign with the team. Expectations were higher with Sean Payton joining the mix in 2023, but the Broncos have been just as bad. Gregory hasn't helped his own case on the field, either.
On Wednesday, the Broncos reportedly cut Gregory, leaving $16.1 million in dead money on the books this season and another $6.3 million on the books in 2024.
Well, psych!
The Broncos never officially waived Gregory, despite Sean Payton talking about the decision with reporters. The veteran linebacker has now been traded to the San Francisco 49ers in a shocking move. Denver receives a slight upgrade in draft capital while the Niners bolster their elite defensive unit.
Here are the details, per ESPN's Adam Schefter.
NFL trade grades: 49ers add another accomplished defensive talent in Randy Gregory
The Niners have arguably the best defense in the NFL, led by DPOY frontrunner Nick Bosa and a slew of Pro Bowl talents across the roster. Linebacker has been a relative area of weakness, but Gregory's performance this season will cast him into a timeshare with players like Dre Greenlaw and rookie Dee Winters.
The big winner is Gregory, who goes from a miserable role on the worst team in the AFC to a genuine Super Bowl opportunity with the first-place Niners. At 30 years old, Gregory still has enough left in the tank to help a winner. Whether he's a starter is another question, but San Francisco will hope a change of scenery and a better-supporting cast will revive Gregory's rapidly declining career.
It's a small price to pay for the Niners, who don't even lose a pick. They're simply moving back from the sixth round to the seventh round, a point in the NFL Draft where the difference is negligible for competent scouting departments. Gregory's contract is a tough pill to swallow, but it becomes easier to get off of next year. Heck, the Broncos almost got off of it this year. Worst case scenario, Niners ownership has to eat some dead money.
This is a classic example of the rich getting richer. It will be hard for Gregory to fall short of expectations after his ineffective and injury-riddled stint in Denver. The Niners as a whole are guaranteed to perform, so all Gregory has to do is play his role. He's not being asked to play the hero.
Grade: B
NFL trade grades: Broncos turn Randy Gregory into sixth-round pick
A couple of days ago, the broader NFL world thought Randy Gregory was a free agent. Sean Payton literally spoke to reporters about the motivation behind cutting the veteran, who essentially lost his job to second-year OLB Nik Bonnito.
"We felt like with some of our younger players and where we are going, it was best for our team right now," Payton said.
Talk about a magic trick. The Broncos never officially submitted the move to the league office and Gregory is now on his way to the Bay. To squeeze any value out of a player you were about to cut is an impressive feat. The Broncos' leverage was in the gutter, but instead of over $20 million in dead money, the franchise swapped a seventh-round pick for a sixth-round pick. That's great business.
Gregory's contract was a sinking ship and the Broncos somehow managed to get off.
Grade: A+