Von Miller re-structures contract, opens up over $12 million

The Denver Broncos have reportedly done some re-working of Von Miller’s contract, freeing up a ton of cap space. What do they have planned?

The Denver Broncos have reportedly freed up nearly $13 million in cap space by converting $16 million of Von Miller’s 2018 base salary into a signing bonus.

That’s a substantial amount of cap space, so one has to wonder what John Elway has up his sleeve for already this second wave of free agency.

This news was reported by ESPN’s Field Yates.

Creating that much cap space is a significant move for the Broncos. They already had about $35 million in cap space to start free agency, so apparently John Elway feels like there are more moves to be made and they are getting the necessary space to make those happen.

As of this point, we have no idea what some of the free agents the Broncos have already signed (Case Keenum, Todd Davis, Tramaine Brock) will count against this year’s salary cap.

It wouldn’t shock me, however, to see Miller’s re-structure cover the cost of either Keenum’s year one cap hit or a combination of the other players combined.

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The Broncos obviously didn’t want to let go of, say, C.J. Anderson if they don’t absolutely have to. This is evidence of that. They are exploring ways to create cap space beyond just cutting players, though they do have some who are at the very least on the bubble.

What might the Broncos do with this cap space?

Well, there are still needs for a starter at right tackle, despite John Elway claiming Menelik Watson would be back this season. The Broncos could stand to upgrade the left guard position, and they have a potential need on the defensive line with Adam Gotsis’ situation.

Mike Klis was speculating that the Broncos would like to add a right tackle and a number three wide receiver, so perhaps this move allows them to do those two things and make a little splash on the defensive line.

This obviously pushes some money down the line for the Broncos, but with Case Keenum in the fold and the likelihood they will still use a top five pick on a quarterback, this can allow them to fill roster holes around Keenum and the rookie quarterback they pick.