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Evan Engram Contract Terms
Two-time Pro Bowl tight end Evan Engram has a deal after being released by the Jaguars. He will sign a two-year contract with Denver, receiving $16.5 million in guarantees with the potential to make $23 million.
Fantasy Impact
Engram has everything needed to be an impactful fantasy football tight end. It felt like a down year with multiple injuries in 2024, but his nine games played would have led to a 17-game pace of 121 targets, 89 receptions, 689 yards, and two touchdowns. He showed no signs of being washed or slowed down, even at 30. Despite a lack of touchdowns, he was on pace for a top-twelve season in fantasy. In 2022 and 2023, he finished as a top-five tight end. He has been a force to deal with in the fantasy football world due to his incredible athleticism and versatility in the receiving game. He has played well as a big slot wide receiver, with the majority of his snaps coming from that spot, and he ranks 7th and 8th in yards per route run out of the slot over his previous two seasons.
The Denver Broncos are an excellent landing spot for the former Jacksonville tight end. Denver's entire tight end group combined for just 455 yards in 2024 -- fewer than 26 individual NFL tight ends. Also, the team's lead in slot targets was Devaughn Vele with 34 looks. Courtland Sutton was the only dependable receiver on this offense in 2024, so with a young ascending quarterback in Bo Nix, the Denver offense desperately needed a tight end who could soak up targets and dominate the slot like Engram. I would anticipate a heavy target share coming Engram's way unless Denver makes a significant splash at wide receiver this offseason, which I doubt will happen.
One last thing to consider is the head coach, Sean Payton. We have all watched how Payton has used Taysom Hill as a "joker" in his New Orleans offenses, giving Hill opportunities to throw, run, and catch the football. While his skill set differs from Engram's, it would not shock me to see Payton use the incredible athlete Engram is in creative ways. This could unlock a whole new ceiling regarding his fantasy football value.
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Fantasy Fallout
Before releasing Engram and trading Christian Kirk to Houston, Jaguars' general manager James Gladstone talked up Brenton Strange, a young tight end on the roster that filled in nicely for Engram when he was hurt. The current shape of this roster would allow for Strange to earn his way to a substantial target share, so he becomes a sleeper in fantasy drafts if Jacksonville does not make any major splashes in the NFL Draft.
While Strange is an intriguing asset, another Jaguar is in line for a potential uptick in targets. An excellent study by Kyle Borgognoni of the Fantasy Footballers in 2020 shows that vacated targets often benefit the running back position the most. The Jaguars have many vacated opportunities heading into 2025, which could lead to a bump in targets for Travis Etienne Jr., who has a tremendous pass-catching profile both in college and in the pros. Etienne is also entering a contract year with a lot to prove to earn a second contract, so I expect a solid bump in opportunities for the former first-round pick.
Adding Engram to the Broncos will give Bo Nix another weapon to throw to, further helping his rapid development as an NFL quarterback. The Broncos seem to want to avoid a sophomore slump, and this action by the team supports that idea entirely. However, this move also displays a lack of confidence in Marvin Mims Jr.'s and Devaughn Vele's ability to step up and be serious contributors, making me question whether they are worth considering in fantasy football at all.
Stock Watch
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Overview
Evan Engram will fill a much-needed role as Denver's primary slot receiving option. I anticipate he will be the number two target in a good, Bo Nix-led offense with the potential for creative usage in Sean Payton's scheme. While he damages the value of other potential receiving options in Denver, his departure opens the door for Travis Etienne Jr. and Brenton Strange to impact more significantly as receivers.
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