Broncos clear another $20 million in cap space through contract restructures

The Denver Broncos continue to expand their salary cap space, which now stands just north of $43 million a day before the start of NFL free agency.

The Denver Broncos continue to expand their salary cap space. Field Yates broke the news on Tuesday morning that Denver has restructured the contracts of defensive lineman Zach Allen and offensive guard Ben Powers to clear almost another $20 million in salary cap space. This move brings Denver’s salary cap just north of $43 million, which is ninth most in the NFL heading into the opening of free agency.

The Broncos approached free agency over $20 million in the hole on the salary cap side of things, but through a series of moves they have really opened things up. Here’s how they have done it:

• Released Russell Wilson
• Released Justin Simmons
• Released Chris Manhertz
• Restructured contract with Mike McGlinchey
• Traded Jerry Jeudy
• Restructured contract with Zach Allen
• Restructured contract with Ben Powers

Over a month ago, I wrote about all the ways the Broncos could clear up salary cap space in a post-Wilson world. They have touched upon just about every single item on that list except for a few, which means they could still free up more cap space if they wanted to.

Either they plan to be bigger spenders in free agency than initially hinted at or they are strategically attempting to clear enough salary cap space to eat the bigger portion of Russell Wilson’s contract in 2024 instead of pushing the bulk of it into 2025. We’ll have to wait and see what they are looking to do with this extra cap room.