Entering Day 2 of the NFL’s free agency negotiating window, the Denver Broncos continue to create salary cap space through simple restructures.
The latest moves: Denver restructured the contracts of defensive lineman Zach Allen and guard Ben Powers, ESPN’s Field Yates first reported Tuesday. The two transactions will save just shy of $20 million in salary cap space this season.
Allen and Powers both had their base salaries ($14.25 million) converted into signing bonuses. Their salaries are lowered to $1.125 million and the signing bonuses will be prorated over the remainder of their contracts, lowering their 2024 cap numbers.
Allen now has three void years at the end of his deal (2026-2028) and Powers has two void years (2027-2028). The Broncos get instant relief now, but the team is kicking the cap hits down the road. Allen is now scheduled to have a cap hit of $12.225 million in 2026 when his contract voids and Powers will have a cap charge of $4.35 million when his deal voids in 2027.
The NFL’s salary cap is expected to increase every year, so those void years shouldn’t be too difficult for Denver to handle, but it’s worth mentioning that the Broncos are saving cap space in 2024 at the expensive of future years.
At the time of publication, OverTheCap.com estimates that Denver now has about $46.35 million worth of cap space in 2024.
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