The Denver Broncos are definitely going to be making some moves to clear some cap space this offseason, as they are currently in the negatives. According to Over The Cap, the Denver Broncos are roughly $24 million over the 2024 cap numbers, so they have no choice but to erase that overage this offseason.
There are a few ways they can do that. Cutting players usually creates cap space. Trading players can create cap space, and restructuring contracts can also create cap space. And I think the Broncos can participate in all three of those scenarios this offseason. In this article, let's focus on three players who could have their contracts restructured this coming offseason.
1. Mike McGlinchey, RT
Someone who could still cement the right tackle position for the Denver Broncos was their biggest free agency signing last year, literally and figuratively. Mike McGlinchey is one of the tallest players in the NFL and was a first-round pick of the San Francisco 49ers back in the 2018 NFL Draft. McGlinchey signed a five-year deal with the Denver Broncos last offseason and was an up and down player.
I think his entire body of work in 2023 could be considered average. However, his contract has an average annual value of $17.5 million, which is top-tier money for the right tackle position. McGlinchey was not playing like a top-tier right tackle in 2023, but I do think he can end up being a solid piece along the OL in the future.
Well, the Broncos are stuck with him for at least three years, and according to Over The Cap, the Denver Broncos can create $10,406,250 in cap space by restructuring McGlinchey's contract. This would be nearly half of the Denver Broncos cap overage in 2024.