Atwater was drafted out of the University of Arkansas by the Broncos with the 20th pick in the first round of the 1989 NFL Draft. The Broncos began the draft with the 13th overall pick and were hoping to upgrade their defense which had ranked 27th (out of a possible 28) against the run the previous year. Knowing that Atwater would be available in the later parts of the first round, the Broncos traded down to the 20th overall pick owned by the Cleveland Browns who selected Eric Metcalf with Denver's 13th overall pick.