Broncos trade up at NFL draft, pick Oregon WR Troy Franklin

The highlights from newest Bronco Troy Franklin (0:43)

Check out the highlights from the Broncos' newest wide receiver Troy Franklin (0:43)

ENGLEWOOD, Colo. -- The Denver Broncos opened Day 3 of the NFL draft with a move to select a teammate of quarterback Bo Nix, who was their first-round pick Thursday night.

The Broncos, who traded five draft picks and three players to the Seattle Seahawks to acquire quarterback Russell Wilson in 2022, dialed up the Seahawks again Saturday morning. Denver moved up from No. 121 overall to No. 102 -- the second pick of Day 3 -- to select Oregon wide receiver Troy Franklin.

The Broncos also sent a fifth-round pick (No. 136 overall) and a sixth-round pick (No. 207) to the Seahawks and received a seventh-round pick (No. 235) in addition to the pick they used for Franklin.

With the trade of Jerry Jeudy to the Cleveland Browns, Franklin's speed is needed in the Broncos' offense. Franklin was one of the fastest receivers at the scouting combine this year with a 4.41 time in the 40-yard dash, and the Broncos' expectation is that he should quickly threaten defenses in the intermediate and deep parts of the field.

A quality route runner, Franklin was a favorite target of Nix, with the wideout setting Oregon single-season records last season in receiving yards (1,383), receiving touchdowns (14) and 100-yard receiving games (eight). Each of those totals were more than Franklin's first two seasons combined.

The Broncos made Nix the sixth quarterback off the board Thursday night when they selected him No. 12 overall. Nix played two seasons with Franklin and the Broncos got an up-close look at how they worked together when Franklin was one of the receivers for Nix at their private pre-draft workout for the quarterback.

Denver hasn't officially said Nix will compete for the starting job as a rookie, but coach Sean Payton said Thursday night: "We have to maximize the [practice] reps that we have and let them develop, and that stuff will sort itself out."

Nix is part of a quarterback room that includes Zach Wilson, whom Denver acquired in a trade this week, and Jarrett Stidham, who started the final two games of the 2023 season after Payton benched Russell Wilson.