Broncos' Open $8.2M in Jonathon Cooper Restructure: Is a Move Coming?

The Denver Broncos have restructured veteran outside linebacker Jonathon Cooper's contract. According to Spotrac, the Broncos converted $10.2 million of Cooper's salary into a signing bonus.

The move frees up $8.2 million in salary cap space.

The #Broncos converted $10.2M of Jonathan Cooper's salary into signing bonus, clearing $8.2M of 2026 cap space.

Updated Cap Hits
2026: $5.78M
2027: $17.5M
2028: $17.5M
2029: $4.91M (void)

Breakdown:https://t.co/1i9SV7sHys
— Spotrac (@spotrac) March 13, 2026

A Big Move Coming?

The Broncos have been weirdly quiet and inactive since free agency began in earnest on Monday morning. Denver is now the only team in the NFL that hasn't signed an outside free agent this week.

Clearing up an additional $8.2 million could be in anticipation of a bigger signing. It could also be a preemptive move to open the books for a trade.

All the wide receivers floated in the NFL trade rumor mill — like A.J. Brown or Jaylen Waddle — would come with sizeable contracts, and any team acquiring them would either need to have room on the cap, or be ready to make it. This Cooper restructure puts the Broncos closer to $21.2 million in cap space, per Spotrac.

Just for fun, though, Brown has a $23 million cap hit for 2026. But if the Broncos acquired him via trade, it could come with an accompanying extension. The same goes for Waddle or any other prospective trade target, and the Broncos could get creative with the numbers.

Keep in mind that the Broncos still have to budget for their 2026 NFL draft class. They've spent the majority of their 2026 cap space thus far on re-signing their own players.

When it comes to free agency, the Broncos' current cap space gives them room for one or two mid-level signings, factoring in the draft class budget. It's hard to say exactly what the uber-conservative Broncos are planning to do with the cap space freed up by restructuring Cooper.

Before free agency negotiations opened on Monday, the Broncos restructured All-Pro right guard Quinn Meinerz, freeing up $11 million, which allowed them to give raises to guys like running back J.K. Dobbins, linebackers Justin Strnad and Alex Singleton, offensive lineman Alex Palczewski, and tight end Adam Trautman.

Everyone else the Broncos have brought back has been signed for around $1 million for 2026, except backup quarterback Sam Ehlinger, who came in at $2 million. The Broncos have prioritized continuity and they're obviously striving to protect the compensatory draft picks they're expected to receive next year for losing defensive lineman John Franklin-Myers and safety P.J. Locke.

If this Cooper restructure is a harbinger of a bigger move coming, it could be a trade, all things considered. The Broncos seem to really be protecting the fourth-round comp pick Franklin-Myers will net them in 2027, so long as they don't sign a player that would offset it in the NFL's formula.

We'll see if this sparks some action at Broncos HQ.

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