Chris Harris has agreed to sign with the Chargers, which is bad news for the Broncos in more ways than one.
Because he signed a deal averaging just $8.5 million per year, Harris is not projected to fetch an early-round compensatory draft pick in 2021, according to Nick Korte of OverTheCap.com.
Ouch. That kills the Broncos' hopes for a 3rd round 2021 compensatory pick for him, and it also hurts for Harris's wallet, who was offered a greater deal with the Broncos last season. https://t.co/yaYfqhsN8p
— Nick Korte (@nickkorte) March 18, 2020
The league awards compensatory picks to teams who lost more in free agency than they gained the previous offseason.
Last year, Denver offered Harris a three-year deal that averaged $12 million per season. Harris turned that offer down and, as Korte noted, it ended up hurting both parties.
Harris had to settle for an average of $3.5 million less per season and the Broncos won’t be eligible for a high-round comp pick for losing him. Instead, Harris’ contract is projected to be worth a fifth-round comp pick, according to OTC. Denver might not even get that, either.
As it stands now, the addition of offensive lineman Graham Glasgow is projected to cancel out the loss of Harris, according to OTC’s cancellation chart. Depending on who else the Broncos lose in free agency, the team might not get a comp pick for Harris at all.
We are tracking all of Denver’s free agency moves here.
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