The Denver Broncos will enter the 2023 league year with the 13th most cap space in the NFL. After the league announced a record-setting salary cap for the upcoming season, how might it give the Broncos flexibility and could the team ask several players to restructure their contracts?
Denver Broncos could create flexibility with new NFL Salary Cap
On Monday, the NFL announced that their salary cap in 2023 would see a significant increase. In 2022, the NFL’s salary cap was $208.2M per club. For 2023, the salary cap will be set at an astonishing $224.8M per club, an increase of $16.6M which is significant for every franchise.
With the cap increase plus rollover from last season, the Denver Broncos sit at $12M in cap space which currently leaves them with the 13th most space ahead of the new league year which officially begins on March 15. As witnessed with various teams around the NFL, more recently with the New Orleans Saints last year, teams can manipulate certain elements that allow them to generate more cap space.
Denver Broncos who have the highest cap hits in 2023
The Broncos have several players on their roster in 2023 who account for the team’s biggest cap hits. Russell Wilson’s contract will provide the Broncos with a $22M cap hit — which is a normal thing for teams who have their perceived franchise quarterback. Following Wilson’s contract, Courtland Sutton ($18.2M), Justin Simmons ($18.1M), Garett Bolles ($17.8M), Randy Gregory ($16.1M), and Graham Glasgow ($14M) round out players who possess the next highest cap hits on the team.
The best players on any NFL team usually have higher cap hits, which allows most organizations to approach them regarding restructuring if the team believes it will create enough space to make the team better. Restructuring a contract doesn’t mean a player is taking less than their agreed-upon contract — it simply allows teams to prorate part of a player’s deal into a signing bonus which gives them money they were already guaranteed upfront, rather than spread out over 17 games.
Players like Wilson, Sutton, Bolles, Gregory, and Simmons could be asked by Denver this off-season to ‘restructure’ their deals if they want to have more than $12M available in cap space. The Broncos could also look to cut several players who don’t have longer durations on their deal but ultimately could save the team more money by moving on.
If the Broncos were to move on from cornerback Ronald Darby, they’d save $9M in cap space. However, the team could also approach him regarding restructuring, which would be the best option in this scenario. Denver’s cornerback depth is thin enough as is and Darby was playing at a high level in 2022 before suffering a torn ACL. Patrick Surtain and Damarri Mathis are very good at the position, but having crucial depth is also important and Darby can help the Broncos defensively.
Graham Glasgow is another player to keep an eye on as the Broncos could save nearly $11M in 2023 if they went a different direction. However, Glasgow has been the ultimate team player during his tenure with the Broncos and has restructured his deal several times. Depending on how the Broncos want to address the center position this offseason, any decisions on Glasgow’s contract should wait.
Another thing to consider for the Denver Broncos this offseason is their cash-rich ownership group. As witnessed this past year, CEO Greg Penner is willing to spend money if it benefits the team including $400k for a brand-new field surface for Denver’s season finale against the Chargers. The Broncos, who have long been subject to longstanding myths that they aren’t cash-heavy — don’t appear to have that problem right now.
With the 13th most cap space in the NFL as it stands today, the Broncos are in a position to create even more this offseason. Who they hire as their next head coach will play a role in some of the personnel-related discussions with Penner and general manager George Paton.
