Broncos Cut 3 Veterans to Clear Up $24.3M in Cap Space
After weeks of anticipation, the Denver Broncos made a trio of veteran roster cuts on Friday, according to multiple reports. The moves were made to free up salary-cap space.
The three veterans are as follows:
- Graham Glasgow | OL | Cap savings: $11M
- Ronald Darby | CB | Cap savings: $9.64M
- Chase Edmonds | RB | Cap savings: $5.92M
Although these cuts will incur $6M in dead-cap chargers, the Broncos created a $24.3M in cap space. Combined with the flexibility the team already had, the Broncos are estimated to have $33M in salary-cap space, according to Jason Fitzgerald of Over The Cap.
The moves come on the doorstep of the NFL's new league year, which officially opens on Wednesday, March 15. However, beginning on Monday, March 13, the NFL's 'legal tampering' period begins, where teams can negotiate with free agents before the new league year officially kicks off.
These three cuts the Broncos made were the most obvious, but there are a few other players who might not be sleeping so well the next couple of days. Defensive tackle Mike Purcell ($3.5M freed) is on unstable footing, as is rush linebacker Jacob Martin ($1M dead/$3.8M free).
It's possible the Broncos have either already decided to keep these two players' contracts, or they could be negotiating behind the scenes on a restructure. Time will tell.
But with the Broncos lacking a first or second-round draft pick this year, free agency is where the team will have to make its hay when it comes to restocking the shelves for new head coach Sean Payton.
Sitting with $33M in cap space puts the Broncos in great position to be competitive on the free-agent market.
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