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Report: Broncos finalizing deal to make Sean Payton new head coach

Former New Orleans Saints coach Sean Payton is about to become the head coach of the Denver Broncos.

According to ESPN, the two teams agreed to compensation on Tuesday afternoon that would clear the path for Payton to be hired by the Broncos. Denver would trade a first-round pick in 2023 -- the 29th overall -- and a second-round pick in 2024 for Payton and a third-round pick.

Payton, 59, is the biggest name available in the coaching market. He is still under contract with New Orleans through the 2024 season after stepping aside as the Saints' coach in January 2022 after 15 seasons.