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Denver Broncos QB Kyle Orton (8) hands off to RB Kolby Smith (42) during the afternoon practice August 1, 2010 at Dove Valley. John Leyba, The Denver Post
Denver Broncos QB Kyle Orton (8) hands off to RB Kolby Smith (42) during the afternoon practice August 1, 2010 at Dove Valley. John Leyba, The Denver Post
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In most places, it was a small-type transaction. But when the Broncos put in a waiver claim on running back Kolby Smith in June, it turned out to be a rather tidy insurance policy.

This is Smith’s chance to show he can play in the NFL. After polling personnel executives across the league about Smith, the prevailing opinion was something on the order of “he should be better.”

They believe Smith, who came into the 2007 draft weighing 220 pounds, with 4.51-second speed in the 40-yard dash and with an explosive 38-inch vertical leap, may still have some upside. He will have the opportunity to prove it during the next couple of weeks.

The Broncos lost two running backs to injuries at training camp Sunday, former first-round draft pick Knowshon Moreno and Correll Buckhalter both leaving the same 7-on-7 drill. Moreno is expected to miss three to four weeks because of a hamstring injury. Buckhalter’s injury is believed to be to his upper back or neck; the timetable for his return is uncertain.

Smith could even get some work with the starters in preseason games, depending on how quickly Moreno is put back in the lineup and what Smith does with his carries in practice.

Smith and Oakland Raiders running back Michael Bush were college teammates at Louisville, and Smith averaged 5.6 yards per carry in his final season with the Cardinals. Louisville coach Bobby Petrino, now at Arkansas, called him “the toughest player I’ve ever coached.” Smith played fullback despite being a 205-pound freshman at the time.

The Kansas City Chiefs made him a fifth-round pick in the 2007 draft. He had six starts as a rookie, finishing that season with 407 yards rushing.

That’s still his best NFL season. He finished 2008 on injured reserve with a knee injury, playing in just seven games. He played in only four games last year before an ankle injury forced him out.

Smith may be the most proven, and safest, option for the Broncos at the moment — if he’s up to the challenge. Plenty of carries are expected to come his way while the Broncos wait for Moreno and Buckhalter to return.

The Broncos’ Bruce Hall (205 pounds) also will get some work. His position coach with the Buffalo Bills was Eric Studesville, now the Broncos’ running backs coach.

Hall was on the Bills’ practice squad all of last season and most of the 2008 season.

Also in the mix is Toney Baker, an undrafted rookie from North Carolina State. He missed all but 26 snaps of his 2008 season with the Wolfpack because he had two surgeries on his right knee. He had cartilage removed — it was regrown in a lab — and placed back in the knee. He had 773 yards rushing last season for the Wolfpack.

Another candidate to help is Lance Ball, who spent part of last season on the Broncos’ practice squad.

Jeff Legwold: 303-954-2359 or jlegwold@denverpost.com