The Broncos landed the biggest name of the NFL coaching cycle, hiring former Saints coach Sean Payton to take over the team. In order to land him, Denver’s new ownership group put up the money to seal the deal.
According to NBC Sports’ Peter King, Sean Payton’s contract with the Broncos is for five years and “in the neighborhood of” $18 million a year. That number would make Payton the second-highest-paid coach in not just the NFL, but in all of American sports. Only Bill Belichick reportedly makes more, as the Patriots coach earns $20 million a year, per Forbes.
Combine the salary with the team sending the Saints multiple high picks and Denver is paying a hefty price just to hire its new head coach.
The decision to hire Payton was the first big move for the Broncos’ new owners, Rob Walton and Greg Penner. The group came from the Walmart fortune and bought Denver for a record 4.65 billion last summer.
Between Payton and quarterback Russell Wilson, who is averaging just under $50 million a year over the next five years, the Broncos are committing significant money to those two positions.