If he isn't rushing to sign with Miami, this could be good. Maybe it means that Hickey is not prepared to just throw money to recruit him and the goal is to pick up a quality RB in the Draft. I have no doubt that Moreno is a better RB than Daniel Thomas, and so a modest offer was probably made. However, if it's a buyers market, then it is smart to not over-pay and try to squeeze. It is clear that Denver consider Moreno expendable, despite his best season.
I expect that we have some good prospects lined up in the Draft. Maybe Bishop Sankey or Carlos Hyde?