This offseason promises to be a challenging one for the Denver Broncos.

It doesn't look like John Elway can convince Peyton Manning to take a pay cut, the team's best defensive lineman, Terrance Knighton, may walk as a free agent, and the running back position is still questionable.

Not only does their best wide receiver, Demaryius Thomas, have an expiring contract, but Julius Thomas is also set to hit the open market. There's a very high possibility that Demaryius Thomas will get the franchise tag by the Broncos this offseason, thus remaining in Denver for at least one more season.

As for the Broncos' star tight end, Julius Thomas is likely on his way out, according to NFL reports. Those same reports have also shown that the Atlanta Falcons and Jacksonville Jaguars are among the most interested teams in the league pursuing Thomas.

At first glance, it may seem like a bad decision for the Broncos to cut ties with Thomas, but they have to do it because of financial reasons. They have huge re-signings to make, and Manning is more than capable of making average tights look great anyway. Thomas previously rejected a five-year, $40 million offer from the Broncos.

As for the Jaguars, there's no doubt they need tight end help. Last season, the Jaguars offense produced the 31st most (or in this case the second fewest) passing yards in the league and second fewest passing touchdowns. Thanks to their terrible offense, the Jaguars finished the season 3-13.

More specifically, their most productive tight last season was Clay Harbor, who had just 289 receiving yards and one receiving touchdown. Blake Bortles is still a very young quarterback who desperately needs a security blanket for short and mid range throws, and Thomas could be his guy. To make matters better, the Jaguars have the most available salary cap space in the NFL.

The Falcons have also shown a lot of interest in Thomas, according to the Atlanta Journal Constitution. Similar to the Jaguars, the Falcons also have a lot of available cap space to spend this offseason.

Although the Falcons do have cap space and a need for tight end, many believe they could be making a mistake pursing Thomas. The Falcons have enormous issues on the defensive side of the ball. Last season, the Falcons ranked dead last in total yards allowed, last in passing yards allowed, 21st in rushing yards allowed, and last in rushing touchdowns against. In other words, the Falcons have the worst defense in the NFL. Spending top dollar for a tight end when you already have the No. 5 ranked passing offense may not be wise.

It would be better for the Falcons to focus on big name defensive free agents such as Justin Houston, Terrance Knighton, Ndamukong Suh, Devin McCourty and Greg Hardy.

There's no doubt Thomas is the best tight end in the NFL set to become a free agent. Thomas has 24 receiving touchdowns over the last two seasons, eight more than Robert Gronkowski in that same time span.

The NFL free agent and trading period begins on Tuesday, March 10 at 4 p.m. EST. Monday, March 2 at 4 p.m. EST is the last day for teams to use the franchise tag.

Follow Damon Salvadore on Twitter

FOR MORE SPORTS NEWS AND UPDATES, CLICK ON THIS LINK TO VISIT LATIN POST.COM'S SPORTS PAGE