The Broncos are finally adding an outside free agent.

A source said the Broncos agreed Thursday to sign safety Tycen Anderson to a one-year deal. Anderson is best regarded for his play on special teams.

The free-agent negotiating period began March 9, and the first day teams could sign outside free agents was March 11. The Broncos had not brought in any outside free agents before Thursday, although they did reach a deal to acquire wide receiver Jaylen Waddle from Miami. That trade became official Wednesday.

The Broncos have re-signed 17 of their own free agents this month.

Anderson, 26, was a fifth-round pick by Cincinnati in 2022 out of Toledo. He spent all of his rookie season on injured reserve. Over the past three seasons, he played in 41 games for the Bengals without a start. That included playing in all 17 games the past two years.

“He’s a very intelligent player,” said Bengals radio analyst Dave Lapham, a guard for the team from 1974-83. “He’s got a high football IQ. I think he can do anything (on special teams). He can be an outside gunner or a personal protector for the punter.”

Anderson was the Bengals’ gunner on punts in 2024 and took on the role of personal protector in 2025. In 2024, he played no snaps on defense and 345 on special teams. In 2025, he got in for 64 snaps on defense and 382 on special teams.

“He brings value to a football team,” Lapham said. “I think the Bengals are ultimately going to miss him. I know he was very popular with his teammates. He’s a good example for younger players to follow. I think the Broncos are going to love him.”

The Broncos have placed a big emphasis in recent years on beefing up their special teams. Last year, Denver signed two free agents, safety Sam Franklin and wide receiver Trent Sherfield, primarily for their play on special teams. However, Franklin didn’t make the opening 53-man roster and then signed with Buffalo, and Sherfield was released after 10 games.

However, Lapham stressed that Anderson also can provide value to the Broncos on defense. They are looking for more depth at safety after P.J. Locke left as a free agent last week to sign with Dallas.

Peart agrees to restructure

After there was speculation that offensive lineman Matt Peart could be released by the Broncos, he has agreed to restructure his contract.

As first reported by Spotrac, Peart signed a deal that cuts his salary by $1.5 million for 2026 and saves the Broncos $1.58 million on the salary cap. Peart agreed to a one-year, $2 million contract that includes $755,000 guaranteed.

Peart, who has played the past two seasons with the Broncos, re-signed last March on a two-year deal. He was on the books in 2026 to make a base salary of $3.075 million with a roster bonus of $425,000 and with $755,000 guaranteed.

Peart played in Denver’s first six games in 2025 before being lost for the season after surgery to repair a torn medial collateral ligament. After Ben Powers had been placed on injured reserve with a torn biceps muscle, Peart started at left guard in Denver’s 13-11 win over the New York Jets on Oct. 12 in London. He injured a knee early in the game but played the rest of the way before going on injured reserve.

Smith on Broncos’ free agency

Former star wide receiver Rod Smith has no problem with the Broncos having re-signed 17 of their own free agents while so far having brought in few new players.

The Broncos went 14-3 in the regular season before falling 10-7 to New England in the AFC Championship Game.

“Here’s a thing I like,” Smith told The Denver Gazette. “Keep the good guys that you have that fit the program. Those guys carry a grudge because they were part of a team that was one sneeze away from a Super Bowl last year. Keep the guys who were part of the pain and they can remedy it. Those guys will be hungry. I like the fact you kept guys you’ve built some trust with.”

As for Denver’s one marquee new player, Smith expects Waddle to help quarterback Bo Nix in one key area.

“We didn’t develop an underneath passing game, that 5- to 12-yard range,” said Smith, active for the Broncos from 1995-2006. “To me, (getting Waddle) can open up some things underneath. We don’t throw enough footballs in that range.”

Smith is looking for Nix to hit Waddle on plenty of slant routes, and he expects the receiver to be able to break a number for good yardage.