ENGLEWOOD, Colo. — The Broncos turned in their best season in a decade.
They tied a franchise record for regular-season wins. They captured their first division title in 10 years. They matched an all-time franchise mark for most home victories.
And yet, the Broncos are chasing more.
"The main message is that we are not satisfied," Owner & CEO Greg Penner said Wednesday. "We know that we have a lot of work to do. We have obviously made a lot of progress in the last four years, but we are going to work our tails off this offseason and come in next year ready to go."
As the Broncos look to the key moments of the offseason, the team's added salary cap space is among the benefits the team will enjoy ahead of the 2026 season. Penner credited the organization for its handling of a historic dead cap hit over the previous two seasons, as the Broncos made a pair of playoff berths — including an AFC Championship Game appearance — despite the restrictions.
"I think we navigated it well," Penner said. "You prefer not to have that kind of dead money on your books because it can be a limiter, but I love the approach we took, which was none of us were ever going to make any excuses for that. So, we just looked at it as, 'We're going to have some constraints. We're going to have to be scrappy, and we're going to figure it out and put a great product on the field.' I think that we've done that. We're in a good position now in terms of cap space, as well as our draft picks. That's exciting as we go into this offseason."
The additional cap space, though, doesn't mean the Broncos will be reckless when free agency arrives. Penner said Denver would be "opportunistically aggressive" as the team looks to improve in free agency.
"You can be aggressive, but you want to do it in a smart way," Penner said. "So, again, we'll be willing to spend if … we see a player that we think is going to add a lot of value here. We'll definitely take an aggressive approach, but we're also not just going to bring in somebody that's not right for this locker room. There'll be a lot of factors that we consider."
The Broncos can create that plan knowing they're led by an impressive young quarterback in Bo Nix, in whom Penner expressed his belief.
"He won 15 games for us," Penner said. "He showed his mettle in the fourth quarter a lot of times, bringing us back. He would say the same thing. It's only his second year in the league, and he has room to grow. Fortunately, Bo has a terrific approach of studying and working. He loves the game. I look forward to watching his continued improvement over the coming years."
Penner also said he is not worried about Nix's health in the wake of the quarterback's season-ending ankle injury.
"I have zero concern," Penner said. "His surgery was a straightforward surgery that went very well, absolutely no issues there or concerns going forward. I thought he had, as a second-year quarterback, a fantastic season."
That continued growth will be critical for Nix and the rest of the team, who can't simply pick up where they left off in a new season. Penner echoed Head Coach Sean Payton's message on Tuesday about starting the proverbial race again, and he pointed to the "culture of toughness, resiliency and grit" that will help the Broncos get ready for their next run.
"It doesn't guarantee success each year," Penner said. "We're going to have to start over again next year. We're going to have big goals, and it will start with trying to win the AFC West and go from there.
"We are definitely not satisfied with what we've accomplished so far."
