With the unofficial start of NFL free agency just over one week away, the Denver Broncos are more than $14 million over the salary cap.
The Broncos will need to free up cap space just to re-sign some of their in-house free agents. Denver will need to create even more cap space if the team is planning to target any pending big-name free agents from other clubs.
There are various ways the Broncos could free up cap space, including trading players, restructuring contracts and giving extensions to select players. The simplest option is making roster cuts.
Denver is expected to release quarterback Russell Wilson in the coming weeks, but that (expected) move will create “dead money” against the salary cap. There are several other players who the Broncos could cut this spring to actually create more cap space ahead of free agency.
Here are eight players to keep an eye on over the next two weeks. Potential cap savings reflect a cut with a post-June 1 designation (if applicable), with the numbers provided by OverTheCap.com.
8
WR Courtland Sutton: $13,570,588 in savings
Releasing Sutton is not a likely option, but it is an option. Unless they plan to trade him, the Broncos will probably ask Sutton to restructure his contract as an alternative to a release.
7
DB Justin Simmons: $14,500,000 in savings
Simmons is another unlikely but possible candidate for a release. Denver might consider trading Simmons, and the team seems very likely to attempt to restructure his contract. Simmons is entering the final year of his deal and his $14.5 million salary is not guaranteed, so the Broncos might have some leverage in negotiations.
6
QB Jarrett Stidham: $5,000,000 in savings
In addition to releasing Wilson, the Broncos might also consider parting with Stidham if they’re really pinched for cap space. Denver could potentially find an upgrade in free agency with a similar cap hit, so the possibility of Stidham being released can’t be ruled out.
5
LB Alex Singleton: $3,000,000 in savings
Singleton broke the Broncos’ single-season tackle record last fall and he’s probably worth more to Denver’s defense than $3 million in cap savings. Every cap dollar adds up, though, and the Broncos do have Jonas Griffith and Drew Sanders returning in 2024.
4
OT Garett Bolles: $16,000,000 in savings
Much like Simmons and Sutton, Denver could explore trading or releasing Bolles, but the most likely scenario is a restructured contract (or an extension). The Broncos will have some leverage in negotiations because Bolles’ $15.75 million salary is not guaranteed.
3
DL D.J. Jones: $9,970,000 in savings
Jones’ performance over the last two seasons does not warrant a release, but the Broncos need cap space and his $9.49 million salary is not guaranteed. Denver could attempt to restructure his contract or give him an extension, but a release can’t be ruled out for Jones.
2
CB Tremon Smith: $2,500,000 in savings
Smith made no impact on defense last year and he was rarely utilized as a returner after the team drafted Marvin Mims. Smith was a fine contributor on special teams, but “fine” is not enough to justify $2.5 million.
1
WR Tim Patrick: $9,500,000 in savings
Patrick is coming off back-to-back serious injuries and he’s set to turn 31 this fall. There’s no way the Broncos will pay him $9.5 million, the non-guaranteed salary he’s scheduled to earn in 2024. Unless he agrees to a big pay cut, Patrick could be the team’s highest-profile cap causality.
