The Broncos don’t have a first-round pick in the NFL Draft, which will be held April 23-25 in Pittsburgh.

So if you’re a fervent following of this event like I am, you can take Thursday night off. Friday might be a yawner, too, since Denver will pick only once. Their second round pick is No. 62 overall. They don’t pick in the third round.

Why don’t they pick in the first and third rounds? That’s a move that has Broncos fans either very excited or very frustrated.

Denver traded those picks to the Miami Dolphins for wide receiver Jaylen Waddle. The excited fans see Waddle as a great complement to Denver’s offense. He’s a quick receiver who can get open on deep routes but is also dangerous in the screen game that coach Sean Payton loves to employ.

The frustrated ones think that the price was just too high. Let’s examine that idea.

Denver gave up picks Nos. 30 (first round), 94 (third round) and 130 (fourth round). According to the draft pick value chart used by most NFL teams, those picks are worth 620, 124 and 42 points respectively. Along with Waddle, Denver got an earlier fourth round pick (No. 111) worth 72 points.

Do the math and the Broncos surrendered a total of 714 points in draft capital. Reference the aforementioned draft pick value chart, and Denver gave up the equivalent of between the 25th overall pick (worth 720 points) and the 26th pick (worth 700 points).

In a draft regarded as weak in the first round, nobody available at either of those picks would be anywhere near as valuable as Waddle will be.

I give the trade a solid B+.

While Waddle is the cornerstone of what the 2026 draft will yield, history, both recent and further back, show that very good players can be gotten with the picks the Broncos still possess.

Aside from the previously mentioned second round pick, Denver enters the draft with two picks in the fourth round (108 and 111), one pick in the fifth round (No. 111) and three picks in the seventh round (246, 256 and 257).

Since General Manager George Paton arrived in 2021, he’s done well in the later rounds.

In 2021, Denver got Pro Bowl guard Quinn Meinerz in the third round and linebacker Jonathan Cooper in the seventh round. The following year, Paton scored LB Nik Bonitto in the second round and C Luke Wattenberg in the fifth.

Wide receiver Marvin Mims was drafted in the second round in 2023 with Riley Moss coming a round later. Linebacker Jonah Elliss (3) WR Troy Franklin (4) and CB Kris Abrams-Draine (5) were picked after Day 1 in 2024.

Last year’s draft saw five guys who will see significant playing time this season come after the first round. Running back RJ Harvey (2), WR Pat Bryant (3), DL Sai’vion Jones (3), LB Que Robinson (4) and P Jeremy Crawshaw (7) all look to be keepers.

Denver has aced the later rounds for years.

How about Hall of Famers Shannon Sharpe in 1990’s seventh round and Terrell Davis in the sixth round in 1995? Then there’s Paul Smith (ninth round in 1968), Karl Mecklenburg (12th round in 1983 and Tom Nalen (seventh round in 1994).

Other noteworthy picks made in fourth round or later are Lyle Alzado, Tom Jackson, Rick Upchurch, Rubin Carter, Steve Foley, Bill Bryan, Mike Harden, Keith Bishop, Sammy Winder, Clarence Kay, Mark Jackson, Mike Anderson, Brandon Marshall, Elvin Dumervil, Julius Thomas, Danny Trevathan, Malik Jackson and Josey Jewell.

All of these guys were multi-year starters and several are enshrined in the Broncos Ring of Fame.

So while Thursday and Friday will be slow for Broncos fans, they should buckle up on Saturday. It’s likely that more than one future starter will be added.