Broncos' 4 Prime Cut/Trade Candidates to Free Up Cap Space

These Denver Broncos aren't feeling the most comfortable with their standing on the roster.

Dec 31, 2023; Denver, Colorado, USA; Denver Broncos quarterback Jarrett Stidham (4) attempts a pass / Isaiah J. Downing-USA TODAY Sports

After making their draft selections and signing multiple college free agents, the Denver Broncos will move forward with offseason workouts, leading up to training camp and the preseason. The Broncos will have between $7 and $8 million in cap space once their draft picks are signed, but what that space actually looks like will depend on how the roster takes shape after the preseason.

Broncos fans should keep in mind that the top-51 cutoff is in effect during the offseason, meaning only the 51-highest hits count against the cap. Once the 53-man roster and practice squad are set in September, all players will count against the cap.

With that in mind, there could be a few Broncos whose roster spots might be in jeopardy if the team decided to save some cap and cash by moving on from a veteran due a fair amount of money while keeping a younger player set to earn less money.

Let's look at the veterans who are most at risk of being moved, including one who could remain the subject of trade talks, along with three others who could be cut after the preseason is finished.

Trade Candidate: Courtland Sutton | WR

Dec 10, 2023; Inglewood, California, USA; Denver Broncos wide receiver Courtland Sutton (14) / Gary A. Vasquez-USA TODAY Sports

Multiple teams have reportedly inquired about acquiring Sutton. Thus far, the Broncos haven't made a move. However, one can't rule out a trade happening once we get past June 1.

Why then? The answer is because, if a trade happens after June 1, the Broncos can spread out the dead money charges and get more cap space freed for 2024.

While a Sutton trade before June 1 would free $9.8M in cap space with $7.65M in dead money, a post-June 1 trade would free up $13.6M in cap space with a $3.83M dead money charge for 2024.

Of course, it's not a given that Sutton will be traded before the season. But if the Broncos are serious about trading him, doing so after June 1 makes a little more sense from a cap standpoint.

Cut Candidate: Jarrett Stidham | QB

Jan 7, 2024; Paradise, Nevada, USA; Denver Broncos quarterback Jarrett Stidham (4) looks to pass / Stephen R. Sylvanie-USA TODAY Sports

Of all the players at risk of being cut, perhaps none are at greater risk than Stidham. Signed to a two-year deal in 2023, Stidham carries a $7M cap charge for 2024 with $1M in salary fully guaranteed.

Zach Wilson, acquired in a trade with the New York Jets, will have a cap charge of $2.7M, so it would make more sense to keep him as the veteran option on the 53-man roster. Cutting Stidham would save $5M in cap space.

I wouldn't expect the Broncos to make a quick decision here, but after the preseason, it's likely that either Stidham or Wilson will be let go. Because Stidham would only be due $1M if cut, and that money has offset clauses, he's the more likely cut candidate unless he impresses far more than Wilson.

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Cut Candidate: Samaje Perine | RB

Dec 10, 2023; Inglewood, California, USA; Denver Broncos running back Samaje Perine (25) runs the / Gary A. Vasquez-USA TODAY Sports

Perine was signed to a two-year deal in 2023 and gave the Broncos a solid option in the running back rotation. However, the Broncos gave more touches to Javonte Williams and Jaleel McLaughlin throughout the season.

After drafting Audric Estimé, there may not be room for Perine. Although Perine is good in pass protection and is a solid pass catcher, Williams can do the former well while McLaughlin is good in the screen game. If Estimé impresses, Perine may be the odd man out.

If Perine is cut after the preseason, the Broncos would save $3M in cap space.

Cut Candidate: Tremon Smith | CB

Oct 12, 2023; Kansas City, Missouri, USA; Denver Broncos cornerback Tremon Smith (1) warms up / Denny Medley-USA TODAY Sports

The Broncos added Smith in free agency in 2023 to help with special teams. He played well in that aspect but didn't offer much on defense.

With Riley Moss having played a lot of special teams and possibly a player who can contribute more on the defense, does it make sense to keep Smith around? There's also the fact that veteran Levi Wallace has special teams experience, plus fifth-round pick Kris Abrams-Draine may get special teams snaps, too.

Cutting Smith would free $2.5M in cap space. Again, I would expect him to be kept through the preseason, but after that, he could be let go if other cornerbacks impress.

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