Broncos 2023 Offseason Moves: Pay-Cut & Release Candidates

Denver Broncos GM George Paton has a busy offseason ahead of him.

The Denver Broncos' 2022 season hasn't been what fans expected, and there's a lot of work to be done in building the roster. Going into 2023, the Broncos will need to figure out how to fill multiple spots in the lineup, particularly on offense. 

Denver is in a decent position when it comes to the salary cap, with a projected $21.8 million in cap space, assuming a base cap of $225M for 2023. The Broncos have 43 players under contract, so the actual cap space will be a bit lower once they sign some players to a futures contract, but the team will also have to ask itself what to do about players currently on the roster who have larger cap hits.

As we begin our look at the 2023 offseason and free agency, we will first look at players who may be released for cap reasons. Most of these players have a sizable cap hit, and the Broncos may prefer to devote cap space to other positions.

Before we look at the players, let's remind everyone about terminology regarding reducing cap charges for a player. People often call every such move a "restructure," but that only applies to a specific type of move.

If you are converting a roster bonus or base salary into a signing bonus, that's a restructuring. However, if you are changing the amount of money the player will receive, that's a renegotiation.

For example, the Broncos converted the roster bonuses of Courtland Sutton and Tim Patrick into signing bonuses last offseason. Thus, Denver restructured their deals to lower their 2022 cap numbers.

However, in the case of Graham Glasgow, he reduced his base salary to $3M with the chance to earn some money back through incentives. The Broncos thus renegotiated his contract.

Now let's go over some of the players who might be considered as candidates to approach about reducing cap numbers or, in a few cases, simply to be released.

Justin Simmons | S

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Simmons is due a $14.4M base salary in 2023, of which $2.9M is fully guaranteed, and has a cap charge of $18.15M. He has two years left on his deal.

Because Simmons has just two years left on his contract, a restructure is not a good idea. While some teams will add void years to a contract, all that does is leave a team with dead money when the contract expires.

A renegotiation is possible but doesn't appear likely. Nor is it likely Simmons would be released. GM George Paton extended him back in 2021, so he is viewed as somebody who should be here for at least another season.

The best move is to leave Simmons' deal alone, but the Broncos can revisit it in 2024 when he enters the final year of his contract.

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Garett Bolles | OT

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Bolles has a $13.75M base salary due, of which $2M is guaranteed for injury only, and a cap charge of $18M. Like Simmons, Bolles has two years left on his deal.

Because Paton didn't extend Bolles, it's possible Bolles could be approached about lowering his salary. The question, though, is whether the Broncos are confident they can find a replacement should Bolles be unwilling to do so.

As with Simmons, a restructure should not happen with Bolles. And while a release can't be ruled out, the Broncos must ask whether they can find a Bolles replacement. Keep in mind, also, that the Broncos would have to pay him $2M, because Bolles is recovering from injury.

Again, this is a contract the Broncos should probably leave alone, but they can always revisit it in 2024 when Bolles enters the final year of the deal.

Ronald Darby | CB

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Darby has a $9.5M base salary due and carries a cap charge of $13M. He enters the final year of the three-year deal he signed in 2021.

Because Darby has no guaranteed money left, he is a candidate to be released. Doing so would save the Broncos $10M in cap space (Darby also has $500K in a per-game roster bonus).

However, a renegotiation could happen, given that Darby has played well (when he's been on the field). Doing so would give the Broncos more time to develop younger cornerbacks.

I would expect either a release or renegotiation to happen here. Either way, the Broncos would get some cap savings.

Graham Glasgow | IOL

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Glasgow is due $9.4M in base salary next year, the final year of his contract. His cap charge would be $14M. Glasgow has a $1M roster bonus due March 21, 2023.

Given that Paton already renegotiated Glasgow's deal this year, it's not hard to figure out that he'll do the same in 2023 or just release him. If Glasgow is cut, the Broncos save $11M in cap space.

While a release is likely, it may depend on how confident Paton is in finding a replacement via free agency or the draft. Keep in mind, the Broncos need a center for 2023, and Glasgow is experienced there.

Mike Purcell | DL

Purcell was considered a potential cut going into training camp this year, but he impressed the coaching staff and continues to play well.

Next year, he'll have a $2.75M base salary due with a cap charge of $3.78M. Cutting him would save the Broncos $3.5M in cap space (Purcell also has a $750K per-game roster bonus).

Again, you'll likely hear a lot of talk about Purcell being a potential cut. In this case, it depends on how confident the Broncos are in their depth at the defensive line.

Brandon McManus | K

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McManus is due a $3.65M base salary in 2023, along with another $100K in per-game roster bonus. He carries a cap charge of $4.9M.

The Broncos kicker has two years left on his deal, so cutting him before June 1 wouldn't net the team much in cap savings. Still, at $2.5M in cap savings, it might be considered.

However, I wouldn't expect the Broncos to cut McManus because they don't have a better option at kicker — certainly not without paying a free agent. Therefore, don't expect the Broncos to touch his contract.

Other Possibilities

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There are other players the Broncos could consider releasing after the season, including recently acquired running back Chase Edmonds to save $6M in cap space or rush linebacker Jacob Martin to save $4.25M.

However, both cuts would leave the Broncos thin at different positions. Releasing Edmonds means the Broncos would have no veteran running back under contract who is at least healthy. Cutting Martin would hurt the Broncos' depth at edge rusher.

In all likelihood, Darby and Glasgow will be the main candidates to renegotiate their deals or be released, with Purcell another possibility. Everyone else is likely staying at their current cap hits.

In the next installment, we'll discuss exclusive rights and restricted free agents.

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