The Denver Broncos have successfully signed cornerback Patrick Surtain to a substantial contract extension, marking a significant development in the NFL’s cornerback market. The four-year, $96 million deal, reported by veteran NFL journalist Jordan Schultz, positions Surtain as the highest-paid cornerback in the league by a margin of $3 million based on average annual value (AAV).
As part of the agreement, Surtain will receive a $15 million signing bonus. His compensation for the 2024 and 2025 seasons is fully guaranteed at signing, while earnings for the subsequent two years will vest early, including a $10 million option bonus in 2026, a $7.63 million base salary for that year, and a $17 million salary in 2027.
Additional provisions include partial guarantees related to his 2028 base salary of $19.49 million, which will fully guarantee in the future. However, compensation beyond that point, including a $23.49 million salary in 2029, remains unguaranteed.
The Broncos had previously exercised Surtain’s fifth-year option worth $19.8 million, tying him to the team through the 2029 season. Despite trade rumors and offers from other clubs, the Broncos viewed Surtain as a foundational player for the Sean Payton era.
Surtain’s rookie contract would have kept him with the team through 2025 at a base salary of just $1.1 million this season. The extension provides the Broncos with financial certainty regarding their star cornerback.
At just 24 years old, Surtain’s performance level makes this deal potentially favorable for the Broncos. The new contract ties him to Denver through his age-29 season and remains significantly lower than the recent wide receiver contracts.
Surtain’s agreement raises the guaranteed money for cornerbacks, pushing the ceiling up by $6.5 million from Denzel Ward’s previous high of $71.25 million. His contract creates a notable gap between cornerbacks and wide receivers, reflecting the latter’s higher valuation in the current market.
While criticism surrounded the Broncos’ decision to draft Surtain over quarterback Justin Fields in 2021, general manager George Paton has been vindicated, as Surtain has become a two-time Pro Bowler and a first-team All-Pro.
Paton has now secured lucrative extensions for key members of his first draft class, including Surtain and right guard Quinn Meinerz. This group is vital to Payton’s strategy moving forward, although the Broncos have struggled to find a stable quarterback.
As the team gears up for a season centered around quarterback Bo Nix, Surtain’s extension highlights a long-term vision. The Broncos had previously considered Surtain a trade asset but ultimately opted to secure his future with the franchise.
Surtain’s new deal sets a benchmark for future cornerback extensions, especially for young stars like Sauce Gardner and Derek Stingley, who will be eligible for contracts in 2025. This development reflects a shift in the cornerback market as it begins to catch up to the wide receiver salaries.