The contract is worth $23 million with $16.5 million fully guaranteed, according to NFL Network's Ian Rapoport. Engram will earn an average of $11.5 million per season. The 30-year-old tight end will now provide a big boost to the offense and give young quarterback Bo Nix another weapon.

He was a teammate of Broncos quarterback Bo Nix at Oregon for the 2022 and 2023 seasons. The two are already familiar with each other’s levels of expertise. Ferguson is a well-balanced, all-around tight end, most efficient in making contested catches, can block on quick passing plays and possesses good size and frame.

The Denver Broncos' offense took a big step forward in 2024, but it became clear that the team needed to surround young quarterback Bo Nix with more talent in the offseason. A recent seven-round NFL mock draft from the Pro Football Network has the Broncos doing just that.

The two-time Pro Bowler is a season removed from a career-high 114 receptions and gives Denver a new dimension on offense.

Less than a week after the Jacksonville Jaguars informed him of his release, veteran tight end Evan Engram has found a new home. Per ESPN's Adam Schefter, Engram is signing a two-year, $23 million contract with the Denver Broncos with a reported $16.