ENGLEWOOD — Troy Franklin’s reward for a strong sophomore season was increased competition.

After finishing last season as the Broncos’ No. 2 receiver, Franklin finds himself a little lower on the pecking order early in training camp. Denver’s front office made a loud, win-now move in March, sending the franchise’s first-, third- and fourth-round picks in this year’s draft to Miami in exchange for Jaylen Waddle and his 5,000-plus career receiving yards.

It’s the type of move teams make to maximize their championship chances while the franchise quarterback, Bo Nix, is still on his rookie contract. It’s not the kind of move that often leads to increased opportunities for younger players, but Franklin’s taking it all in his very quick stride.

“He’s fast as hell. He’s quick,” Franklin said of Waddle after Wednesday’s practice at Broncos Park. “I’m just trying to do a good job of being a sponge and taking whatever I can from him.”

In his second NFL season, Franklin established himself as a vertical threat that Nix, his former college teammate at Oregon, could trust. The 6-foot-3 speedster finished second to Courtland Sutton for the team lead in targets (104), receptions (65), yards (709), receiving touchdowns (six) and receptions of 20 or more yards (nine).

The 23-year-old looks even more comfortable heading into his third NFL season.

“He’s getting used to the different roles he’s playing and the alignments on the field. He’s got real good burst,” Broncos coach Sean Payton said after a two-hour practice.

“He’s comfortable within the framework. It’s so much different from the system he had in college.”

While Sutton and Waddle look to have the top spots occupied, Franklin has competition to be the third. Pat Bryant made the biggest play among the receivers on a day Sutton rested and Waddle left with muscle tightness, hauling in a pass from Nix. It came just after Franklin made a big play of his own. Marvin Mims Jr. and Lil’Jordan Humphrey also have hopes of carving out a slice of the targets.

“Everybody’s out there, making their plays and stuff, helping each other out, making sure we’re all competing at a high level,” Franklin said.

“It’s been pretty fun.”

It’s too early, Franklin said, to stress about the depth chart and how it eventually will shake out. The offense is bound to look a little different with Davis Webb operating as the primary play-caller, though Franklin wanted to keep the new details behind closed doors. His priority heading into year three is to do what he did last season on a more regular basis.

“It’s pretty early still. I just want to show that I’m being consistent, reliable and all of that stuff. That’s pretty much my focus right now,” Franklin said.

“When the ball is coming my way, making plays and just always being ready, that’s all it comes down to.”