Updating Broncos' 2022 Salary Cap After Initial Waves of Free Agency
With the dust having settled in NFL free agency, and more information coming in about player contracts, we have a better idea about where teams stand in terms of cap space.
The Denver Broncos are no exception. While contract details still aren't known for Billy Turner, who the Broncos signed last week, details are known for all other players the team has acquired.
The Broncos now sit at $16.1 million in cap space, per Over the Cap, with 66 players under contract. Turner's contract is the only one not yet accounted for.
Russell Wilson, acquired in a trade with the Seattle Seahawks, will carry a $24M cap charge, in the form of his $19M base salary and a $5M roster bonus. Here are the 2022 cap hits of the rest of the players added or re-signed:
- Randy Gregory | Edge: $5.6M
- D.J. Jones | DT: $4.02M
- Josey Jewell | LB: $3.75M
- Calvin Anderson | OT: $2.5M
- Malik Reed | Edge: $2.43M
- Tom Compton | OT: $2.25M
- K'Waun Williams | CB: $2.105M
- Eric Tomlinson | TE: $1.435M
- Andrew Beck | FB/TE: $1.225M
- Alex Singleton | LB: $1.115M
- Josh Johnson | QB: $995K
- Ben Braden | IOL: $965K
- J.R. Reed | S: $895K
One thing to keep in mind is that only the top-51 contracts count toward the salary cap during the offseason. This is why when a player is signed during the offseason, the cap space used is not exactly the same as the player's actual cap hit.
To that end, when the Broncos make their draft selections, they will not need the full $7.25M in cap space that their draft picks represent. The effective cap space is actually about $1.6M, because players with smaller cap charges will fall below the top-51 cut-off.
Once the Broncos set their 53-man roster and practice squad before the start of the NFL season, that's when every player counts toward the cap.
This is one reason why the Broncos shouldn't use all of their remaining cap space. Keeping a cushion throughout the offseason helps to prepare for the time when all players count toward the cap. It also gives flexibility when players are lost to injury and others are signed to replace them.
The Broncos can also look at other ways to gain cap space during the offseason but could be more inclined to make these moves after training camp, once they know who will be part of the 53-man roster.
Nose tackle Mike Purcell and punter Sam Martin are the two names to watch in particular, plus there's a possibility the Broncos could trade Dalton Risner if they believe other players can step in at left guard. This doesn't mean these players are guaranteed to be let go — it's just something to keep in mind when the final roster is determined.
The Broncos also need to look ahead to 2023 and ask themselves which players might be in line for a new deal — even if the team has the ability to cut certain players next year.
On one hand, the Broncos could cut offensive guard Graham Glasgow and cornerback Ronald Darby after the 2022 season and save $20M in cap space between the two. On the other hand, if the Broncos keep Risner, he would join defensive lineman Dre'Mont Jones and rush linebacker Bradley Chubb as players who are possible candidates for a new deal, depending on how they play in 2022.
An extension for Wilson is also likely and would help create cap space for 2023. Even so, carrying over some space for 2023 helps ensure the Broncos have some flexibility and don't need to go through a lot of restructures.
While acquiring Wilson addresses the quarterback position and should put the Broncos into playoff contention, general manager George Paton is right that this is still a 7-10 team until it proves otherwise. The Broncos were aggressive in trading for Wilson, but that doesn't mean they keep going "all in" under the assumption that a Super Bowl is guaranteed this season.
The immediate picture certainly gives fans reasons to be excited. But they shouldn't forget the long-term picture — and that's why it's a good idea to not push tightly against the cap and over-rely on contract restructures.
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