Lutz was reportedly set to join the Jaguars on a three-year deal, but has now decided to stay in the Mile High City. In his first season with the Broncos, Lutz converted on 30 of his 34 field goal attempts, and is an 85.2 percent kicker for his career.

Head coach Sean Payton acquires his former kicker in New Orleans after Brett Maher seemingly had the starting job locked up. Maher will likely be released and Lutz — who missed much of the 2021 season with a groin injury — will kick for Denver this season. He makes for a decent fantasy option in Denver, and Blake Grupe — the only other kicker on the New Orleans roster — becomes an interesting sleeper option in fantasy leagues.

While the exact number for Lutz's 2023 salary wasn't disclosed, the veteran kicker was set to earn $3.4 million in base salary next season. After going 23-of-31 on his field goal attempts last season, Lutz was a prime candidate for the team to target as they aim to get under the salary cap. Underhill notes that Lutz's contract was not restructured. He's set to be a free agent after this upcoming season.