6 Painful Roster Moves Broncos Could Make in 2024

The Denver Broncos aren't in a good financial situation next year, which means change is coming.

With the Denver Broncos projected to be over the salary cap in 2024, they will have to make some roster decisions. The Broncos don't have a lot of free agents they have to retain, but they will have to make a few decisions regarding players with expiring contracts. 

Along with that, there are players on the current roster who will need to be either released or traded, while others might be candidates for extensions to lower their cap numbers.

There are three more games left to play, so nothing can be decided just yet. Of particular note will be what happens with Russell Wilson, whose 2025 base salary of $37 million becomes fully guaranteed if he's still on the roster as of March 21, 2024.

But other decisions will have to be made about certain players. Let's look at where notable players could be categorized at this point, keeping in mind that things could change in the next three games.

Extension Candidate: Garett Bolles | OT

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Of all the players entering the final year of their contracts, Bolles is the leading candidate for an extension to lower his cap number. He has played well most of the season, despite his 2022 season ending after five games because of a broken leg.

Bolles is valued at $16.5M per Over the Cap's player valuation metric. While that metric doesn't indicate exactly what he would get paid, an extension would likely commit the Broncos to him for the 2024 and 2025 seasons and likely at or slightly above the $17M APY on his current four-year deal.

There's no guarantee the Broncos will extend Bolles, but given that it's not unusual for offensive tackles to play for many years, an extension isn't a bad idea. How much cap space the Broncos gain, though, would depend on the terms of an extension.

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Cut Candidate; DJ Jones | DL

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Jones got a three-year, $30M deal when he joined the Broncos last season. He was one of the bright spots on the defense in 2021, though whether he was worth the money is another question.

This season has been a different story. Jones hasn't played as well, and while the Broncos need a lot of help on the defensive line, they could do better than committing another $10M to Jones next season.

Cutting Jones would save $10M in cap space.

Cut Candidate: Tim Patrick | WR

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Patrick proved a capable player when he stepped into the lineup in 2018, and really excelled after Courtland Sutton missed most of the 2020 season with a torn ACL. Patrick was still productive in 2021 and got a three-year extension.

Unfortunately, Patrick has missed the past two seasons. He tore his ACL in 2022, then his Achilles tendon in 2023, both in training camp. It's hard to justify keeping Patrick, as much as Broncos fans may like him.

Cutting Patrick would save $10M in cap space.

Re-Sign Candidate: P.J. Locke | S

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With Kareem Jackson serving a second suspension, Locke has played more snaps, even as he missed some time with injuries. He looks more like a player that the Broncos should bring back for 2024.

Locke isn't likely to command a top-dollar contract, so the Broncos might allow him to test the market first. However, he would be preferable to Jackson, who isn't getting any younger.

I'll talk more later on about comparisons with other players to indicate the type of contract Locke would receive. I will say, though, that it would be possible to bring Locke back to a deal that fits under the 2024 cap.

Restructure Candidate: Zach Allen | DL

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You'll hear a lot of talk about restructuring contracts, but while you don't want to do too many, it's safe to do one in a given year. Allen might be the best option here.

That's because, among the 2023 free agent signings, Allen has been the best of them. He has two years remaining on his deal, though there is a void year in 2026 for cap purposes.

A restructure of a portion of his $15.25M would lower his $19M cap number. The Broncos might have to add another void year, but it shouldn't hurt their long-term flexibility.

The key is that the Broncos shouldn't restructure too many players. They need to limit it to one or two, and, given Allen's high level of play, he's the best bet.

Trade Candidate: Jerry Jeudy | WR

Jerry Jeudy has been a solid player though not one who has lived up to the expectations one would have for a first-round pick. And with his fifth-year option salary of nearly $13M due in 2024, the Broncos need to lower that number.

A renegotiation isn't likely to happen because the salary is fully guaranteed, which means the Broncos may need to trade him while they still can. Doing so would dump that salary and free up $13M in cap space.

The other option is to extend Jeudy. However, the Broncos then have to ask what he's worth in an extension. 

Again, I'll talk about comparable player contracts later, but the Broncos must weigh such a decision carefully, particularly because Jeudy hasn't proven to be an impact player.

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