Table of Contents
Tuesday was quite a day for Denver Broncos fans. Just minutes after learning that Aaron Rodgers would stay with the Green Bay Packers, the Broncos finalized a trade in principle with the Seattle Seahawks to acquire nine-time Pro Bowl quarterback Russell Wilson.
The Broncos now have a quarterback they can build around, but it begs the question: Are the Broncos still in a position to do that?
From a cap standpoint, certainly.
Over the Cap has updated the Broncos’ financial status and has the Broncos with $26.2 million in cap space. That accounts for Wilson’s $19M base salary and $5M roster bonus, plus the money saved by dealing Shelby Harris, Noah Fant, and Drew Lock as part of the blockbuster trade, and Tuesday’s release of DaeSean Hamilton.
This does come with a caveat: The Broncos have 48 players under contract, meaning they need to add three players to reach 51 and know what their effective cap space will be.
However, that is easily accomplished by tendering three exclusive rights free agents: QB Brett Rypien, DB P.J. Locke, and LB Jonas Griffith. Doing so would bring the Broncos to 51 players under contract and would leave the team with $23.6M in cap space.
The Broncos can still do more to create additional room under the cap. Let’s look at the biggest thing the Broncos can do to gain some cap space.
Restructure the contracts of WRs Courtland Sutton and Tim Patrick.
When general manager George Paton extended Sutton and Patrick, he gave himself flexibility when it came to their new deals. He did this by putting roster bonuses for both receivers into their deals for the 2022 season.
Sutton is due a $10.5M roster bonus, but that can be converted into a signing bonus and sperad out over the next four seasons. Doing so lowers his 2022 cap number from $13.2M to $5.325M.
Patrick is due a $6.96M roster bonus, but converting that into a signing bonus, spread out over the next three seasons, and his 2022 cap hit is lowered from $9.25M to $4.6M.
With these simple restructures, the Broncos can get to $36.1M in cap space. Now they have more ability to improve the roster.
You can now see why Paton structured their contracts in this way. If he got the veteran QB, he could do the restructures and give himself more cap room, all without sacrificing too much in the long term.
Let’s take a snapshot of Denver’s new salary cap situation and 2022 offseason outlook in the wake of Tuesday’s tectonic Wilson acquisition.
Other Moves to Gain Cap Space
Isaiah J. Downing-USA TODAY Sports
The New Offseason Approach
Kirby Lee-USA TODAY Sports
Bottom Line
Ron Chenoy-USA TODAY Sports
Follow Bob on Twitter @BobMorrisSports.
Follow Mile High Huddle on Twitter and Facebook.
Subscribe to Mile High Huddle on YouTube for daily Broncos live-stream podcasts!
https://www.si.com/nfl/broncos/news/broncos-salary-cap-flexibility-russell-wilson-trade
More Stories
Julia Monahan gets the data to support the hunch
Salary and Career Survey shows big rewards for knowing marketing and machines
New York State joins NYC in passing salary disclosure law | Constangy, Brooks, Smith & Prophete, LLP