Denver Broncos: Why trading Von Miller makes financial sense

After what may be one of the biggest trades in Broncos history, Von Miller is now a Los Angeles Ram.

Wow.

Many staff members and sources inside the Broncos organization believed general manager George Paton would be making the move sooner rather than later, and Miller’s inactive status last Sunday was a huge signal towards the deal.

In exchange for Miller, the Broncos will be receiving the Rams’ 2022 second-round selection, as well as their 2022 third-rounder.

While this is key, the arguably most important factor in this deal is the fact that Denver is paying $9 million of Miller’s $9.7 million dollar cap hit. The Rams are now only responsible for paying a little over $700,000 of Miller’s salary.

In total, The Broncos will be taking a little over $21.5 million in dead cap for Miller.

While this may seem like a big deal right now, it actually helps tremendously in 2022.

Why trading miller to LA makes financial sense.

The Broncos were already slated to take on Miller’s salary for the entirety of 2021. While he’s not playing for the team for the remaining 10 weeks, the financials really didn’t change from their 2021 projections.

Miller was also set to be an unrestricted free agent in 2022. If Miller were to have stayed with Denver for the rest of the season, Denver likely would have let him walk anyway. It’s better to pay for him while getting picks back rather than paying for him with nothing in return.

Moving into 2022, the Broncos now have Miller’s contract completely off the books. This opens up countless opportunities for the roster.

To begin, Denver will have around $79 million to work with at the beginning of the offseason. This amount of space is MASSIVE compared to some other situations in the NFL.

For example, the Rams are now in a position to only have around $8 million in cap space at the very start of 2022. The Steelers, who are arguably in a similar scenario as Denver in terms of talent, will have a little under $50 million to work with going into the offseason.

Here’s where things get better

Looking at this move as a whole, Denver is in a position to have the most cap space out of the entire NFL heading into the 2022 offseason.

This move also considers the possibilities of trading players such as Melvin Gordon (currently carrying a $4.9 million dollar cap hit) and Kareem Jackson (currently carrying a near $5 million dollar cap hit).

If we were to take those off the books as well, the Broncos end up with this massive total of $79 million in space.

What can the Broncos do with all of this cap?

For starters, you have to reserve around $4-5 million for rookies in the draft, meaning the cap space is now down to around $74 million.

The Broncos also have the option now to go and sign OLB Bradley Chubb to an extension. If they really feel confident in his playmaking and ability to stay healthy, then they have the power to keep him.

Lastly, and most certainly not least, Denver can go and get a big-time playmaker.

Who this is depends on what George Paton and the coaching staff feel would most positively impact the team. Right now, though, all directions point towards a quarterback.

One name that has come up in countless conversations is Green Bay Packers quarterback Aaron Rodgers.

In 2022, Rodgers is expected to have a cap hit of around $33 million dollars for the Packers. It is also the last year of his contract.

If the Broncos do go out and trade for Rodgers, they have the room to do so. $74 million is plenty to take on Rodgers. They would also only have to worry about that contract for one year, with Rodgers set to hit free agency in 2023.

Denver, if they so choose, can then sign Rodgers to a restructured contract.

There are many possibilities that can come out of this move. The fact of the matter is the Broncos are now without their best pass-rusher for the remainder of the season. It’s now up to standout rookie Jonathan Cooper, Dre’Mont Jones, and the returning Bradley Chubb to handle the brunt of the work.

What Denver does with this financial freedom is yet to be seen, but one thing is for sure: buckle up for a potentially wild offseason.