The Denver Broncos have agreed on compensation with the New Orleans Saints to acquire the rights to head coach Sean Payton, per ESPN's Adam Schefter.

The Broncos will deal their 2023 first-round pick and 2024 second-round selection for Payton and the Saints' 2024 third-round choice.

Payton stepped down after the 2021 season, but the Saints held his rights through 2024 since he signed a five-year contract extension in 2019.

The Broncos and Saints had already done a lot of draft wheeling and dealing before this reported trade.

Denver traded its original 2023 first-rounder to the Seattle Seahawks in last offseason's Russell Wilson deal, but the Broncos got a first-rounder back when they dealt Bradley Chubb to the Miami Dolphins.

That draft choice was initially held by the San Francisco 49ers, who sent the pick to Miami to move up to No. 3 in the 2021 draft for quarterback Trey Lance. That pick will be No. 30 in this year's draft.

Meanwhile, the Saints sent their original 2023 first-rounder to the Philadelphia Eagles last season in a larger deal in which Philly sent its Nos. 16 and 19 choices to New Orleans in 2022. It also involved swaps in 2023 and 2024.

Here's a look at how things stand now for the Broncos and Saints.

2023 Broncos Picks (via Ian Cummings of Pro Football Network)

• Round 3, Pick 68 (from Indianapolis Colts)
• Round 3, Pick 69
• Round 4, Pick 108
• Round 5, Pick 140
• Round 6, Pick 194 (from Pittsburgh Steelers)
• Round 7, Pick 247 (from Minnesota Vikings)

2024 Broncos Picks

• Round 1, Pick TBD
• Round 3, Pick TBD
• Round 4, Pick TBD (from Miami Dolphins)
• Round 5, Pick TBD (from New York Jets)
• Round 7, Pick TBD (from Los Angeles Rams)

2023 Saints Picks (via Matt Infante of Pro Football Network)

• Round 1, Pick 29 (from Denver Broncos via Miami Dolphins and San Francisco 49ers)
• Round 2, Pick 40
• Round 3, Pick 71
• Round 4, Pick 112
• Round 5, Pick 143
• Round 5, Pick 163 (from Philadelphia Eagles)
• Round 7, Pick 205

2024 Saints Picks

• Round 1, Pick TBD
• Round 4, Pick TBD
• Round 5, Pick TBD
• Round 6, Pick TBD (from Philadelphia Eagles)

The Broncos are looking to bounce back from a disappointing 5-12 season in which they fired first-year head coach Nathaniel Hackett after he was 4-11.

The Saints had a tough year as well, going 7-10 under Dennis Allen, who was promoted from defensive coordinator after Payton stepped down.