Broncos Make Playoffs Despite $91M in Dead Money

The Denver Broncos overcame an enormous obstacle to make the playoffs.

Jan 5, 2025; Denver, Colorado, USA; Denver Broncos quarterback Bo Nix (10) huddles with tight end Adam Trautman (82) and offensive tackle Mike McGlinchey (69) and teammates in the third quarter against the Kansas City Chiefs at Empower Field at Mile High. / Isaiah J. Downing-Imagn Images

The Denver Broncos finally broke their playoff drought after beating the Kansas City Chiefs on Sunday. Though the Broncos had their chances to secure a playoff bid the preceding two weeks, they finally got it done, even if it came against many of the Chiefs' backup players.

More impressively, the Broncos went 10-7 this season despite leading the NFL in dead money charges from released players. The Broncos carried $91.271 million in dead money in 2024, higher than any other team.

Of course, the bulk of that came from Russell Wilson, who was released with a post-June 1 designation before the start of the 2024 league year. That left the Broncos with $53M in dead money and $35M in cash commitments to Wilson, with only a small amount offset when the Pittsburgh Steelers signed Wilson for the veteran minimum.

The Wilson trade and subsequent extension go down as the worst moves in Broncos history, but he wasn't the only player to carry a significant dead money charge. Here are the other notable players with dead money against the cap:

• Randy Gregory: A 2022 free agent signing, Gregory was about to be released during the 2023 season, but the Broncos traded him to the 49ers. He left a $7.124M dead money charge against the 2024 cap.

• Tim Patrick: The Broncos restructured his 2023 salary to convert some money into a signing bonus. They then cut him after 2024 training camp, leaving a $6.071M dead money charge.

• Justin Simmons: He was released in the final year of his four-year contract, leaving a $3.75M dead money charge.

• Frank Clark: A free agent addition in 2023, the Broncos gave him a signing bonus and multiple void years in his contract, but Clark seldom saw the field and was released. He counted for $3.18M in dead money in 2024.

• Josh Reynolds: A 2024 free agent signing, Reynolds landed on injured reserve, then was released after he got healthy when the Broncos decided to go with younger players. That left a $2.696M dead money charge.

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There were other players in addition to those, but the Broncos still managed to be a competitive team this year and finally earned a playoff berth in the last week of the regular season.

A lot of credit has to go to how Broncos GM George Paton approached the offseason, to Sean Payton for coaching well in the majority of games, and to a 2024 draft class that netted quarterback Bo Nix plus other players who could be building blocks for the years to come.

The Broncos weren't active in free agency but made a significant signing of Brandon Jones and made an important trade in acquiring John Franklin-Myers. Players such as Nik Bonitto and Marvin Mims Jr. improved, while Riley Moss showed he could be a key player on defense after seldom seeing the field as a rookie.

Next year, the Broncos will have $32M in dead money from the Wilson contract, plus some dead money from the Reynolds release, but the other players will no longer count against the cap. The Broncos are projected to have $41.445M in cap space once they get 51 players under contract (they have 38), so they will be in a better position to explore free agency this offseason.

Tip your hat to the Broncos' front office and coaching staff, though, for doing a good job of overcoming a tough cap situation this year and making the playoffs.

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