Going into this week, records from the NFL Players Association indicated that the Denver Broncos were about $14 million over the salary cap.
It’s not exactly clear what the cutoff date for that figure was, though, as sites like OverTheCap.com had the number closer to $16 million. Regardless of whether it was $14 million or $16 million, Denver was well over the cap.
The Broncos made the first of several moves to free up cap space when they released veteran safety Justin Simmons on Thursday. That cut will save $14.5 million in cap space this year. After the team parted ways with Simmons, OTC estimates Denver is still $2.65 million over the cap.
Even if that estimate is high and the Broncos are right near cap compliance, the team will need to create additional cap space to make any signings this offseason. In addition to outside free agents, Denver has a few key in-house free agents to re-sign, including safety P.J. Locke.
As the Broncos look to free up more cap space, left tackle Garett Bolles ($20 million), wide receiver Courtland Sutton ($17.39 million), defensive lineman D.J. Jones ($12.95) and receiver Tim Patrick ($15.57 million) will be players to keep an eye on in the coming days.
Denver could also look to restructure the contracts of players like defensive lineman Zach Allen ($19 million), right tackle Mike McGlinchey ($18.5 million) and guard Ben Powers ($15.25 million). The Broncos could also save $12.98 million if they trade wide receiver Jerry Jeudy.
The rebuild has started, and more moves are on the way. If Simmons isn’t safe, nobody is safe in Denver.
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