What happened: Denver's earlier framework called for two first-round picks and two first-round pick swaps, according to Shams Charania. Restricted free agent Peyton Watson remains under Denver's control while negotiations continue.

Why it matters: The revision reduces the draft cost while requiring an established player in return. Denver's $222 million second-apron pressure complicates any resolution that adds salary.

What to watch: Watch whether the lower price produces a workable offer or moves Denver and Watson toward a new contract.