A year ago, the Broncos released safety Justin Simmons, traded wide receiver Jerry Jeudy and made some other moves just to carve out a modest amount of salary-cap room entering free agency.

It is not that way now.

The Broncos will head into free agency this week having made no recent moves and with more than $40 million of salary-cap room.

Helping the Broncos be in good shape was last year deciding to take a $53 million dead cap for 2024 and a $32 million one for 2025 when they released quarterback Russell Wilson. The other option was to take a $35.4 million hit in 2024 and one for $49.6 million in 2025.

So, what happened when the Broncos led the NFL in 2024 in dead money on the salary cap at $89 million? Under second-year coach Sean Payton, they went 10-7 and made the playoffs for the first time since 2015.

“I thought Sean came in in a very tough spot with the money situation,’’ said Mike Shanahan, the legendary coach who led the Broncos to Super Bowl wins in the 1997 and 1998 seasons. “And I thought they did an unbelievable job to get to the playoffs in the second year.”

Now, Shanahan will be following free agency with interest to see what the Broncos do now that they are down to $33.5 million in dead money. The free agency negotiating period starts Monday and players from other teams can sign deals starting Wednesday on the first day of the new league year. The Broncos have 14 of their own free agents who are eligible to re-sign at any time.

General manager George Paton said the Broncos were in a situation in which “we couldn’t miss last year” in free agency. They signed some key players on defense in safety Brandon Jones, defensive tackle Malcolm Roach and inside linebacker Cody Barton.

Despite having a good bit more cap room this year, Paton isn’t predicting the Broncos will go on a spending spree. Then again, he’s not ruling it out.

“You’re selective in free agency,’’ Paton said. “You’re hopefully measured. Does that mean you’re not going to have a big signing this year? No. I think for the most part you just have to be measured.”

The Broncos enter free agency with interest on offense in beefing up the roster at running back, tight end and wide receiver. On defense, there are needs at inside linebacker, safety and perhaps for depth on the line.

Some of what the Broncos do will depend on what free agents of their own they re-sign. Paton has said Denver has interest in bringing back nose tackle D.J. Jones, 30. But, after making a base salary of $9.49 million in 2024, he would need to take a pay cut to return.

Another notable free agent on defense is Barton. However, the Broncos could look to upgrade that spot with an outside signing.

On offense, Paton said the Broncos are considering bringing back running back Javonte Williams. However, that seems to be a long shot after a season in which Williams averaged just 3.7 yards per carry on his team-high 513 yards rushing.

The Broncos want to keep one of their two reserve quarterbacks behind Bo Nix in either Jarrett Stidham or Zach Wilson. Stidham appears to be the favorite to stick around since Wilson could be more attractive to another team in free agency.

Denver’s other unrestricted free agents are wide receiver Lil’Jordan Humphrey, fullback Michael Burton, tackle Matt Peart, guard Quinn Bailey, linebackers Justin Strnad and Zach Cunningham, cornerback Tremon Smith and punter Riley Dixon. Their only restricted free agent is long snapper Mitch Fraboni.

Agent Jimmy Gould told The Denver Gazette on Friday he is “more than optimistic’ Humphrey will be re-signed. The Broncos are not planning to tender Fraboni but could re-sign him to a contract that in 2025 would be worth a good bit less than the lowest tender amount of $3.263 million.

As for outside free agents, the Broncos have been hard at work in evaluating possibilities.

“We’ve also had a good jump in free agency, relative to the film study and the priorities,’’ Payton said late last month at the NFL scouting combine in Indianapolis.

Payton said getting a running back or tight end “has to make sense” in free agency but didn’t deny those positions are “a priority.”

Among the top running backs available in free agency are Aaron Jones, J.K. Dobbins and Rico Dowdle. But the April 24-26 draft is deep at the position, so it’s possible the Broncos might remain patient throughout March.

Among the top tight ends available are Evan Engram, recently released by Jacksonville, Zach Ertz and Juwan Johnson. Johnson is a realistic option to come to Denver after playing the past five seasons with New Orleans, including his first two when Payton was the Saints’ coach in 2020 and 2021. He had career highs of 50 catches and 548 yards in 2024.

“(Payton) meant a lot to me,’’ Johnson told The Denver Gazette last October about having been a wide receiver when he entered the NFL in 2020 as an undrafted rookie. “He went into the decision to move me from wide receiver to tight end and it was a big jump start to my career.”

Among the top wide receivers available are Davante Adams, Chris Godwin and Amari Cooper. However, the Broncos like their group of receivers and might not be willing to pay top dollar for one in free agency.

On defense, more will be known after it is seen what happens with D.J. Jones and Barton. At defensive tackle, top prospects available include Poona Ford, Milton Williams and B.J. Hill. At inside linebacker, among the top names are Nick Bolton, Robert Spillane and Dre Greenlaw.

The Broncos’ first target in free agency last year was Brandon Jones, and it wouldn’t be a surprise if they quickly go after another safety to put alongside him after P.J. Locke had an inconsistent season. Among the top free agents at the position are Justin Reid, Talanoa Hufanga and Javon Holland, who was Brandon Jones’ Miami teammate from 2021-23.

“There’s always a challenge every offseason, and this is no different,’’ Paton said as free agency approached. “We’re going to have to have a really good offseason.”

The Broncos had a good run in free agency in 2024 with a lot less money than they have now.