The Denver Broncos made the decision to move on from veteran cornerback AJ Bouye, a trade acquisition in the 2020 offseason.
Moving on from Bouye will ultimately save the Broncos over $13 million in total cap space for 2021, no small figure especially considering the league’s salary cap could drop from just under $200 million to under $181 million because of the impact COVID-19 had in the course of the last year.
Because of the lowered salary cap, the Denver Broncos made the wise move to roll over just under $18 million in cap space from 2020 to 2021, giving them one of the more favorable cap situations in the entire NFL.
According to Overthecap.com, the Broncos have the seventh-most cap space in the league (over $32 million). While more salary cap cuts should be expected, the Broncos might also try to keep the majority of their core intact and try to get players to potentially re-do their contracts to help the team get through this unprecedented decrease in salary cap across the league.
After the Bouye release, there are still some players with huge salary cap numbers for 2021 who have low dead money figures, making them prime cap casualty candidates. Let’s take a look through these names and what the Broncos might try to do with each.
Denver Broncos potential remaining 2021 cap casualties
1. Von Miller, OLB
2021 salary cap number: $22.125 million
2021 dead cap if released: $4.125 million
2021 cap savings if released: $18 million
No player’s situation is more unsettling right now with the Denver Broncos than team legend Von Miller’s.
As much as everyone wants to see Justin Simmons back, Miller is the best defensive player in franchise history, a living legend, and future first-ballot Hall of Famer.
Cutting Von Miller would be a brutal decision for George Paton to have to make in his first year on the job as general manager, and if Miller had played and balled out in the 2020 season, it might be easier for Denver’s new decision-maker to just keep things as they are.
Miller is coming off of a season-ending injury, however, and while no one wants to see him get cut just to save a buck, there needs to be a discussion between Denver and Miller’s camp about potentially renegotiating his deal.
Miller would be a free agent after this season anyway, so with the Broncos not necessarily up against the salary cap, the worst-case scenario should be to free up funds elsewhere to keep Miller for 2021 and kick that can down the road.
The best-case scenario would be Miller signing a new contract to remain in Denver for the next few seasons at a more team-friendly rate. Who knows if Miller would be amenable to that? At this point, nobody does.
Not even the great Sheriff Peyton Manning was exempt from being asked to take a pay cut, however, so Miller is not an exception here.
Cutting Von Miller just seems like a horrendous idea no matter what kind of money it saves on the salary cap. The Broncos should do everything in their power to try and convince Miller to stick around on a contract extension that frees up some 2021 cap space and keeps Miller in orange and blue for the rest of his career.
Denver Broncos possible remaining 2021 cap casualties
2. Kareem Jackson, DB
2021 salary cap number: ~$12.9 million
2021 dead cap figure (if released): ~2.9 million
2021 cap savings (if released): $10 million
In two seasons with the Denver Broncos and Vic Fangio, Kareem Jackson has made the full-time transition to the safety position look easy.
Jackson has been a vicious hitter in the Denver secondary and has proven to be a very nice signing from the free agent class of 2019.
In his first two seasons in orange and blue, Jackson has racked up 160 total tackles, five tackles for loss, three interceptions, 14 pass breakups, a forced fumble, two fumble recoveries, and a defensive touchdown on the road against his former team the Houston Texans.
Jackson also played 100 percent of the team’s defensive snaps in 2020, proving what kind of value he brings to the table as an every-down player. At the age of 32 (33 in April) Jackson doesn’t appear to have lost a step and is playing at a high level.
With the safety class both in free agency and in the 2021 NFL Draft, are the Broncos willing to let the 32-year-old Jackson count nearly $13 million against their salary cap with the potential of $10 million in savings?
This is yet another tough call. Jackson was given roughly $9 million in signing bonuses and $14 million in guaranteed salaries from 2019-20, so his guaranteed cash is in the rearview at this point.
Would Jackson be willing to re-up with the Broncos for another two seasons to get some more cash in his pocket and lower that 2021 cap hit?
Unlike AJ Bouye, Jackson has proven his value to the Denver Broncos on the field. Still, in his age 33 season, Jackson is poised to have the second-highest cap hit in the NFL among strong safeties and his cap figure of just under $13 million would put him as the 6th-highest safety in AAV overall.
You would hate to see the Broncos make a cap cut with a player who has been as good as Jackson, especially given the team’s lack of depth at safety right now.
My guess is the Broncos will approach Jackson about a restructure and use the depth at safety in this year’s free agency class and 2021 NFL Draft as leverage.
If Jackson isn’t willing to restructure, he could very well be cut.
Denver Broncos possible remaining 2021 cap casualties
3. Jurrell Casey, DL
2021 salary cap number: ~$11.87 million
2021 dead cap (if released): $0
2021 cap savings (if released): ~$11.87 million
After his 2020 season was cut short due to injury, the Denver Broncos barely got a glimpse of the potential impact of Jurrell Casey in the Vic Fangio defense.
The team had dreams of a top-four rotation in 2020 of Casey, Shelby Harris, Dre’Mont Jones, and Mike Purcell, but it wasn’t to be.
Casey was injured in the second game of the season, and now the Broncos face another tough decision as they try to figure out their financial situation for the 2021 offseason.
Because Casey has zero dead money if released, he’s obviously a prime cap cut candidate.
Casey will be 31 this season and the Broncos will need to figure out if (and how) they are going to re-sign Shelby Harris. Could there be a decision forthcoming between one or the other?
The acquisition of Casey in the 2020 offseason was one of the most exciting moves the Broncos made. Adding him into the mix with Von Miller, Bradley Chubb, Harris, Jones, and the rest of the Denver front seven seemed so incredible on paper.
Unfortunately, injuries ruined any dream scenarios.
Casey, at this point in his career and coming off of injury, could be willing to restructure his deal to stay in Denver for another year or two. He also might prefer the Broncos just cut him so he can title chase with another team.
Hopefully, the Broncos will be able to sell Casey that they are a team on the rise and he will ultimately decide to sign a new deal with the team that not only frees up cap space but keeps him on the roster.
Denver Broncos possible remaining 2021 cap casualties
4. Nick Vannett, TE
Possible cap savings: ~$2.67 million
The Denver Broncos made somewhat of a curious signing in the 2020 free agent circuit by bringing in veteran tight end Nick Vannett.
His first season in Denver had plenty of mixed results overall, but he seemed to get better as the season progressed like many others in the Broncos’ offense. Overall, Vannett’s price point for the 2021 season (over $3.5 million) is not prohibitive but the team might feel confident in other backups like Albert Okwuegbunam, Troy Fumagalli, and Andrew Beck moving forward.
5. Jeff Driskel, QB
Possible cap savings: $2.5 million
Considering the fact that Jeff Driskel ended the season as the demoted third quarterback on the team, it would be a shocker if he’s still on the Denver Broncos’ roster come mid-March.
Driskel was replaced on the depth chart by former undrafted free agent Brett Rypien.
It seems like this move is merely a matter of time.
6. DaeSean Hamilton, WR
Possible cap savings: $2.183 million
The Broncos could bring back their entire wide receiver group from a season ago, and it would not be a bad idea to do so.
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With that being said, former fourth-round pick DaeSean Hamilton has not taken that expected step forward in Denver and will be a free agent after the 2021 season. Perhaps the Broncos could try to trade Hamilton to a different situation to save this cap, but his is a name to be on the lookout for.