The Denver Broncos will release punter Sam Martin after he declined to take a pay cut, according to a report from NFL Network’s Ian Rapoport.
Martin’s average salary of $2.35 million made him the 10th-highest paid punter in the NFL. This year specifically, Martin was set to have the fourth-highest cap hit among punters in the NFL ($2,733,334).
Martin’s release will save the team $2.25 million in salary cap space this season, according to OverTheCap.com.
Martin’s competition at punter this summer, Corliss Waitman, is set to have a cap hit of just $825,000 this year, which is the fifth-lowest at his position.
Former Broncos general manager John Elway gave Martin a three-year, $7.05 million contract in 2020. Martin’s performed well in Denver, but new GM George Paton is finding ways to save cap space, likely due to part to an upcoming extension for quarterback Russell Wilson.
Martin’s release presumably means the team plans to move forward with the left-footed Waitman. Other punters across the league will become available this week (including Brett Kern), but the Broncos seem unlikely to find an option cheaper than Waitman.
Waitman entered the league as an undrafted free agent out of South Alabama with the Pittsburgh Steelers in 2020. He’s spent time with three different teams since then, punting seven times for 365 yards in his career, an average of 52.1 yards per boot.
Martin is the first known cut for Denver this week. The team has to make 27 roster moves to get down to a 53-man roster ahead of Tuesday’s deadline.
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