The Denver Broncos will have some cap space to spend this coming offseason. About how much do they have as the season winds down? There is a myth going around that the Denver Broncos will not have any money to spend in free agency and are cap-strapped because of the Russell Wilson debacle.
Well, those myths are... myths.
The Broncos will have money to spend!
They aren't true, as Denver was very careful in handling the fallout of his contract release. The team is taking on the $53 million dead cap chunk this season and will take on the remaining $32 million next season. Denver was also a bit more frugal with their money last offseason, and them hitting on a QB in the 2024 NFL Draft also helps the financial side of things.
Right now, the Broncos are in a position to be able to make multiple free agency moves next offseason to improve their roster. They also have the ability to get some extensions done to free up further space.
According to Over The Cap, the Denver Broncos currently have around $53 million in cap space in 2025. This doesn't even count the team potentially saving another $9.2 million by extending Zach Allen. Restructuring Ben Powers' contract saves Denver another $7.7 million, and they could do the same with Mike McGlinchey's deal and save another $12.1 million.
Denver will have money to spend in free agency if they want. And heck, with them also now having their own first and second-round picks, they could swing a player trade if the need arose. The idea that the Broncos did not have resources available to them because of cutting Russell Wilson was false.
They won't be able to sign every free agent they want - but they are not, by any means, strapped with their cap space. Denver can break the bank once or twice this coming offseason, and it would not shock me if they made a huge push for someone like Tee Higgins.
With them having this much success in 2024 with a rookie QB and a high-end head coach, they have also now turned into a free agent destination. Free agents across the NFL have surely taken note of the Broncos' success and their recent rend of paying players.
This is a player-first, well-run organization that could load up in a huge way in 2025. Their cap space amount may end up a lot higher than some initially thought.