Finally, Broncos Country, we have some good news.

After watching free agent after free agent leave Denver for greener (as in the money) pastures last week, John Elway has finally agreed to a deal that will keep one of the Broncos’ own in the Mile High. According to Jeff Legwold, the Denver Broncos and DeMarcus Ware have agreed to restructure the Hall of Fame pass rusher’s contract.

Ware was scheduled to make $7 million next season, plus a $3 million roster bonus that would have been paid out on Sunday had a new deal not been reached, bringing his total cap to $11.6 million (includes $1.6 million from his original signing bonus).

According Ian Rapoport, Ware’s restructured contract will pay him $2 million up front, but will allow Ware to make back his full $10 million salary in incentives.

The extra cap space freed up by the new deal should give John Elway more flexibility to start making some moves in free agency. More importantly, ensuring Ware remains in Denver is, as Mike Klis points out, a big win for the Broncos.