We now have a three-trade Wednesday, as Sean Payton will do business with Mickey Loomis. The Broncos are sending wide receiver Devaughn Vele to the Saints, NewOrleans.football’s Nick Underhill reports.
Although Vele was only a seventh-round pick, he showed promise as a rookie. As a result, the Broncos will gain a strong return on investment. The Saints are sending the Broncos a 2026 fourth-round pick and a 2027 seventh-rounder, ESPN’s Adam Schefter reports. The Broncos have since announced the trade.
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Three years remain on Vele’s rookie contract. The Broncos have seen promising preseason work from both Troy Franklin and rookie third-rounder Pat Bryant. With Bryant profiling as a big-bodied outside receiver, Vele’s place in Denver’s passing attack may well have been foggier as a result of the Illinois product’s arrival. Now, he will join a Saints team that experienced significant injury trouble at receiver last year — but one that has now added multiple pieces in 2025.
New Orleans spent much of last season without its top two receiving options — Chris Olave and Rashid Shaheed. Olave suffered two concussions and did not return during the team’s late swoon following Derek Carr‘s season-ending injury. Shaheed played in only six games last year, suffering meniscus injury that required a full repair. Both starters are back for the Saints, who also reunited with Brandin Cooks in free agency. Although New Orleans’ starting quarterback has yet to be decided, either Spencer Rattler or Tyler Shough will have two new auxiliary WRs to target.
In Vele, the Saints will land a 6-foot-5 wideout on a seventh-round contract. Vele is one of the older rookies in recent NFL history, however, in already being 27. He will turn 28 before season’s end, complicating his prospects for a second contract down the line. For now, the Saints have him under control through the 2027 season.
Last season, Vele worked as the Broncos’ second-most utilized receiver — behind only Courtland Sutton. As Franklin and Marvin Mims struggled with inconsistency, Vele logged a 53% snap share. The Utah product caught 41 passes for 475 yards and three touchdowns as a rookie.
Payton’s Saints years frequently involved a host of sidekick options alongside a clear No. 1 — be it Marques Colston or Michael Thomas. His second Broncos setup looks similar, with Mims, Franklin and Bryant set to complement the recently extended Sutton. With the Broncos also signing backup/special-teamer Trent Sherfield, they suddenly had a bit of a logjam on their hands. The team has also used rookie UDFA Courtney Jackson as a return man in the preseason; Jackson could have a path to a sixth WR spot with Vele gone.
It is not known which Bronco will succeed Vele as the team’s second-most utilized wideout, but Franklin — a 2024 fourth-round pick who played with Bo Nix at Oregon — looks like an interesting bet for that de facto WR2 role. Then again, Mims came on strong to close last season and drew WR2 buzz this summer. After the Broncos passed on adding a veteran beyond Sherfield, they will count on the Mims-Franklin-Bryant contingent to the point Vele suddenly became expendable.