5 Vets the Broncos Could Consider Cutting to Free Up Cap Space

Each offseason, cap casualties abound across the NFL. Who are the Broncos' most likely candidates?

Nov 30, 2025; Landover, Maryland, USA; Denver Broncos tight end Evan Engram (1) celebrates after a play against the Washington Commanders with wide receiver Pat Bryant (13) in overtime of the game at Northwest Stadium. | Peter Casey-Imagn Images

We've previously analyzed how the Denver Broncos can create more room by restructuring contracts of current players, converting money due into a signing bonus. But while this can be a useful way to gain cap space, it means pushing some of that money into future seasons.

There are other ways for the Broncos to gain cap space without having to push a lot of money into the future. The Broncos could opt to cut players for cap space or renegotiate player salaries, mostly done through converting salary into incentives.

When cutting a player, the cap space gained is immediate unless it gets the post-June 1 designation. In that case, the cap hit applies until June 1. Thus, for immediate cap relief, a post-June 1 move is not an option.

When salary is converted into incentives, any incentives earned apply to next year's cap. While that does come at a cost to next year's cap, it's worth it if the player achieves the incentives, as it shows he earned that money back.

There are five notable Broncos whom the team could either cut or approach to renegotiate their salaries. However, just because a player enters that conversation, it doesn't mean he's gone — among these five, there are at least two Broncos who should be safe.

Let's examine those players and break down the best route for the Broncos to take.

Ben Powers | OG

November 17, 2024: Denver Broncos guard Ben Powers (74) blocks Atlanta Falcons defensive end Zach Harrison (96) in the second half of the football game between the Denver Broncos and Atlanta Falcons. | Derek Regensburger/IMAGO/ZUMA Press Wire

Powers will enter the final year of the four-year deal he signed back in 2023. His contract was structured to allow the Broncos to move on from him in 2026 if the need arose.

The Broncos restructured Powers's deal in 2024 to gain cap space, but could still get $8.38 million in space freed with $9.775 million in dead money if they cut him. However, there are several reasons he's unlikely to be cut.

First, while Powers missed a few games with a torn biceps, it was his first time missing games for the Broncos, and, more importantly, he played some of his best football when he was healthy.

Second, the Broncos lost backup guard Nick Gargiulo to a torn ACL in training camp. Gargiulo was likely being developed to be a potential replacement for Powers, but having missed a full season, he probably won't be viewed as a starter.

Third, while the Broncos could retain Alex Palczewski as a restricted free agent, he wasn't as good as Powers when he started at left guard. Thus, it's likely Powers will stay for 2026, though he may be allowed to leave in free agency in 2027.

Verdict: Keep him and leave his contract alone.

Brandon Jones | S

Oct 12, 2025; Tottenham, United Kingdom; Denver Broncos safety Brandon Jones (22) leaves the field after an NFL International Series game against the New York Jets at Tottenham Hotspur Stadium. | Kirby Lee-Imagn Images

Jones signed a three-year deal with the Broncos in 2024 and was a pleasant surprise in his first season with the team. His second season wasn't as good, but he still played well overall.

However, Jones's 2025 season ended early because of a pectoral injury, and he was unable to return for the playoffs. The Broncos could save $7.41 million in cap space with just a $1.833 million dead-money charge if they cut him.

While Jones's deal isn't difficult to escape, it's not likely he'll be cut. P.J. Locke will be a free agent, and there's no guarantee that the Broncos will find a similar replacement for less money.

Verdict: Keep him and leave his contract alone.

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Dre Greenlaw | LB

Nov 2, 2025; Houston, Texas, USA; Denver Broncos linebacker Dre Greenlaw (57) reacts after a play during the first half against the Houston Texans at NRG Stadium. | Sean Thomas-Imagn Images

The Broncos took a chance on Greenlaw, who had an injury history in his time with the San Francisco 49ers. The Broncos gave him a three-year deal worth $31.5M, but protected themselves by only giving him fully guaranteed money in 2025.

Greenlaw does have $2M in 2026 that is injury-only guaranteed, but the Broncos would save $6M in cap space by cutting him, provided he can pass a physical. Given that he was active to close out the season, it's likely he should be able to pass one.

But one thing to remember is the Broncos have two linebackers — Alex Singleton and Justin Strnad — who will be unrestricted free agents. If the Broncos cut Greenlaw, they'd have a third linebacker spot to fill.

A better idea might be to ask Greenlaw to renegotiate his 2026 salary and convert $2M to $3M into incentives in exchange for fully guaranteeing the remainder. That $2M to $3M saved would help the Broncos' cap situation and give Greenlaw a chance to earn it back with better play.

Verdict: Try to renegotiate his salary, but if you can retain both Singleton and Strnad, be prepared to cut him.

Evan Engram | TE

Jan 4, 2026; Denver, Colorado, USA; Denver Broncos tight end Evan Engram (1) runs with the ball against Los Angeles Chargers safety Tony Jefferson (23) and cornerback Tarheeb Still (29) during the first half at Empower Field at Mile High. | Isaiah J. Downing-Imagn Images

After the Jacksonville Jaguars released Engram before the 2025 league year started, he signed with the Broncos on a two-year deal. However, Engram didn't have the impact expected.

Engram is due $10.99M in base salary and $510K as a per-game roster bonus. He has $5M in fully guaranteed salary, and, if he's cut, the Broncos would only gain about $3.8M in cap space.

This is a case where the Broncos should approach the player about converting some of their base salary into incentives. A possible solution would be to increase Engram's guaranteed money to $7M and convert the remainder of his base salary into performance-based incentives.

A conversion like that would give the Broncos an additional $2.9M in cap space — not a lot of space, but it would add up as the team makes other moves.

If Engram doesn't renegotiate his salary, and the Broncos can sign an upgrade in free agency, they could cut him, even if it's painful. But the Broncos would need to make such a free-agent signing before any decision to cut him.

Verdict: Renegotiate his contract. Only cut him if you sign a clear upgrade in free agency, and he won't renegotiate.

Matt Peart | OL

Nov 10, 2024; Kansas City, Missouri, USA; Denver Broncos offensive tackle Matt Peart (79) at the line of scrimmage against the Kansas City Chiefs during the game at GEHA Field at Arrowhead Stadium. | Denny Medley-Imagn Images

Peart signed a one-year deal with the Broncos in 2024 to be the team's swing tackle. He filled the role well and got a two-year deal in 2025.

Things didn't go as well for Peart this past season, as he started just one game, struggled, and then tore his ACL on one of the first plays of that game.

Since then, the aforementioned Palczewski showed he could handle the role of the top backup offensive lineman. Also, offensive tackle Frank Crum made progress with his play and is the likely favorite to be the swing tackle this coming season.

Therefore, there isn't room on the roster for Peart, assuming Palczewski is retained (and he likely will be). In this case, it should be an easy decision to cut the player. Cutting Peart would free up $3.225M in cap space with just $750K in dead money.

Verdict: Cut him.