With two teams kicking off training camp this coming weekend -- rookies report in Seattle on Friday and San Francisco on Saturday -- the NFL's annual late-June/early-July break is almost over.
DON'T MISS OUT: Grab the 2026 Footballguys Draft Guide before they are all gone.
But for fantasy managers who take their preparation seriously, there is no downtime. That's why the Fantasy Notebook has been using this time to roll out a position-by-position series on underrated players.
Three weeks ago, it was Underrated Running Backs. Two weeks ago, we covered Underrated Wide Receivers. Last week, we plumbed the depths of Underrated Tight Ends.
Now, we'll close out the series with Underrated Quarterbacks just in time to get back to our regular coverage as training camps open. It started Monday with Discounts Despite Big 2025 Finishes. Tuesday we looked at Leveraging Cheap Cheat Code QBs. Wednesday it was Injury-Driven Values. Today, we'll dive deeper. Much deeper, because . . .
The QB2 Pool Is Full of QB1 Upside
While many people have taken to the Late-Round Quarterback theory of drafting, here at Footballguys, we like to see it through the prism of our foundational strategy: Value-Based Drafting. The goal of value-based drafting is to build the highest-scoring team by picking players based on how much they outscore their peers, not by total points. Quarterbacks score the most points, but the depth is so extraordinary this season that legitimate QB1 production extends well into the QB2 tier, making patience at the position more rewarding than ever.
Here are six quarterbacks who illustrate just how deep that pool has become.
Purdy Good for a QB2
San Francisco's Brock Purdy enters his fifth NFL season looking to rebound after injuries caused him to appear in only nine games.
But those nine games were glorious.
As SI.com's Michael Fabiano pointed out, even though Purdy finished just 23rd among quarterbacks in total fantasy points a season ago, his 19.9 points-per-game average was sixth among QBs with a minimum of nine starts. He averaged more points than guys like Caleb Williams, Jalen Hurts, Dak Prescott, Joe Burrow, and Lamar Jackson.
He also scored 28-plus points in Weeks 15-17, delivering QB3, QB2, and QB1 overall finishes with a 36.9-point finish in Week 17, when fantasy championships were on the line.
Yet here we are, with Purdy sporting a QB12 Average Draft Position (ADP) and an eighth-round price.
What Gives?
49ers WebZone's David Bonilla notes that for the first time since establishing himself as the San Francisco 49ers' starting quarterback, Purdy will enter a season with a dramatically different group of pass catchers.
All-Pro tight end George Kittle remains one of the NFL's premier offensive weapons, although he is working his way back from an Achilles injury. Running back Christian McCaffrey also returns after a dominant 2025 campaign in which he totaled 2,126 scrimmage yards and 17 touchdowns.
But the changes at wideout are notable.
Veterans Mike Evans and Christian Kirk replace Jauan Jennings and Kendrick Bourne, who departed in free agency. Brandon Aiyuk is also on his way out -- perhaps out of the league.
Additionally, the 49ers used their first-round draft pick on intriguing rookie De'Zhaun Stribling, who could carve out an increasingly important role as the 2026 season unfolds.
The newcomers join third-year receivers Ricky Pearsall and Jacob Cowing, giving Purdy an entirely new mix of weapons.
The hope is that Kirk will provide a dependable chain-moving option underneath.
At the same time, Evans gives Purdy something the 49ers have rarely had during his tenure -- a physically dominant boundary receiver who is also a lethal red-zone weapon.
The Outlook
If Purdy can effectively integrate Evans and Kirk into the passing attack, the 49ers should field one of the NFL's more balanced -- and potentially potent -- attacks, and investors who landed him in QB2 territory will come out ahead.
Embracing Change in Denver
Denver's Bo Nix enters his third NFL season after finishing inside the top-10 at the position (with QB8 and QB9 outcomes) during each of his first two campaigns.
As ESPN's Mike Clay suggests, Nix's passing efficiency has a way to go (career 6.5 yards per attempt), but his dual-threat ability has kept him in the weekly QB1 mix.
Nix has finished both seasons no lower than 11th in pass attempts, completions, passing TDs, carries, rushing yards, and rushing TDs.
Nix provided a solid floor (11 games with 15-plus fantasy points) last season, but his ceiling was low (four top-10 weeks).
In 2026, he'll have a new playcaller in Davis Webb and an upgraded group of pass catchers with Jaylen Waddle added to the mix.
Will the Changes Matter?
The good news is Nix has a special relationship with Webb, who served as the team's quarterbacks coach for a pair of seasons before adding passing game coordinator to his title ahead of 2024.
Webb's playcalling experience was limited, as you might expect with head coach Sean Payton handling that role until now.
But Webb was allowed to call plays for the Broncos' 2025 preseason win over the Cardinals, and Denver racked up 562 yards of total offense and averaged 7.8 yards per play.
The Broncos scored 24 first-half points in that game, and Webb received a game ball after the win.
Setting Expectations
According to Sports Illustrated's Chad Jenson, we don't know how different this offense may look under Webb's play-calling. However, we can't get too carried away with the projections, since Payton has asserted it's still his offensive system, even though Webb will be calling the shots.
But it's worth noting that in Webb's first season as pass game coordinator, the Broncos' passing offense jumped from 20th in 2024 to 11th in 2025.
Nix has already posted prolific numbers through his first two years. This could be how he breaks through onto the next tier of NFL quarterbacks.
If so, Nix's current QB15 ADP (that includes an eighth-round price tag) positions him to deliver considerable value for a player coming off a QB9 finish in 2025 . . .