Report: Broncos Trade OLB Randy Gregory to Niners at 11th Hour
Sean Payton was right. Instead of releasing Randy Gregory and absorbing the full dead money it would cost on the salary cap, the Denver Broncos found a willing trade partner. According to Tom Pelissero, the Broncos traded Gregory to the San Francisco 49ers.
"Plot twist! The Broncos are trading veteran OLB Randy Gregory to the 49ers, per sources. Denver never formally released Gregory, who now gets a fresh start with a contender in San Francisco," Pelissero tweeted on Friday.
Per ESPN's Adam Schefter, the Broncos dealt Gregory and a 2024 seventh-round draft pick to the Niners in exchange for a 2024 sixth-rounder. For a high-dollar free-agent signing that went bust for Denver, pulling off a trade, which converts a 2024 seventh-rounder into a sixth, and mitigates some of the sting of Gregory's massive contract, is quite the coup.
Broncos GM George Paton has been rightly criticized for the Gregory bust, but perhaps pulling this rabbit out of a hat will take the edge off somewhat. Paton has done well as a draft artist, but many of his veteran acquisitions haven't panned out for the Broncos.
According to 9NEWS' Mike Klis, the Broncos will pay most of the remainder of Gregory's 2023 salary this year, which adds up to $10.9 million.
"Per source, Broncos are paying all but prorated $1.08 million minimum ($840k) of Randy Gregory’s remaining $10.9m this year. So Broncos pay roughly $10m but do get one-round jump in draft. For Broncos, something is better than nothing. For 49ers they get a proven OLB," Klis tweeted.
The Broncos were always going to have to eat the remainder of Gregory's 2023 salary, and releasing him would have ensured that. Pulling off this trade not only mitigates the Broncos' remaining financial burden on Gregory's salary, but it also improves the team's draft position in the later rounds next year.
Moving forward, the Broncos will continue to roll with Jonathon Cooper and Nik Bonitto as starters at rush linebacker. Baron Browning is practicing again and is expected to be activated off the PUP list soon, while veteran Frank Clark seems to also be returning soon.
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