PROJECTED TRADE WITH DALLAS COWBOYS

Sean Payton takes advantage of teams overlooking Warren's skills, sending Denver's first- and second-round picks to Dallas for this selection and a fifth-rounder. The tight end brings great value to second-year signal-caller Bo Nix as a strong but nimble pass catcher who's able to move the chains, get down the seam and be a major red zone threat.

Between Courtland Sutton and Marvin Mims, the Broncos have two guys who can make plays downfield. How about a receiver who can do all the underneath stuff and provide a serious YAC threat?

A bit of a luxury pick maybe, but Hampton would give the Broncos a steady and reliable RB1 for their offense — and form a strong trio with second-year running back Audric Estime and Jaleel McLaughlin.

Day 1 grade: C
Day 2 grade: B
Day 3 grade: A

Analysis: Time will tell whether Nix will be a top-notch starting NFL quarterback or viewed as a reach by a team in desperate need of talent under center. Time will also tell whether the 2023 first- and 2024 second-rounders the Broncos sent the Saints to acquire coach Sean Payton (along with a 2024 third-round pick) will lead to a championship in Denver.

Elliss isn't a fantastic athlete but was productive at a need position for Utah, where he played for his father, former NFL lineman Luther Elliss. Denver traded up early in Round 4 to unite Franklin with Nix; the former is not the toughest receiver, but he can make defenders miss after the catch. The Broncos then found value at corner in wiry competitor Abrams-Draine before grabbing a power back in Estimé.

Top needs entering the draft: Quarterback, cornerback, edge defender

A year after picking just three times in the top five rounds, the Broncos were without their Round 2 pick in this draft. I never felt confident they'd take a quarterback at No. 12; they had too many roster questions to reach for a passer, too many holes to fill. Right? I thought they'd either take the best available cornerback there or trade down to build up their capital. If they really wanted to add a passer to compete with Jarrett Stidham and Zach Wilson, they could have landed one later in Round 1.

And I was wrong. Coach Sean Payton & Co. saw the run on quarterbacks -- five in the top 10 -- and stood pat, selecting Bo Nix (12). I wrote at length about the move on Thursday, but to sum it up: That's way too high for Nix, who put up massive numbers at Oregon but played in an offense in which he wasn't asked to go through read progressions. There's a ton of risk here. No one will remember that this pick was questioned if Nix becomes an immediate star, but Payton's Denver tenure is now tied to a passer with question marks.

Now, I did like the Broncos' pick of Troy Franklin (102), who was Nix's top pass-catcher at Oregon. I thought he'd go in Round 2, and instead they were able to get him on Day 3. Franklin and Nix's connection already is strong, as they combined for 1,383 yards and 14 scores a year ago. Denver had to give up Nos. 121, 136 and 207 for Nos. 102 and 235, though. Kris Abrams-Draine (145) is a high-risk, high-reward cornerback who can make a big play but also get beat deep. Edge rusher Jonah Elliss (76) had 12 sacks last season but is undersized at 6-2, 248 pounds. Audric Estime's (147) stock dropped after he ran a 4.71-second 40-yard dash at the combine, but his tape doesn't lie -- I think he can be a good running back at the next level.

As I said, Payton's future is aligned with the sixth-best signal-caller in this draft, and we know there's not a great history of six QBs being stellar in one draft class. Likely half of those guys will end up having mediocre careers. For Payton's sake, he better hope it's not his guy or he won't last long with the Broncos.