The Denver Broncos have gotten off to a hot start in the first wave of NFL free agency clearing between $50M and $70M in cap space through numerous restructures and releases. Regardless of whether or not you want to label Denver's offseason approach as a "rebuild", the front office and head coach Sean Payton are making it abundantly clear that life after Russell Wilson's contract is completely financially capable.
According to Overthecap.com, the Broncos currently have roughly $27M in cap space. Perhaps, the Broncos are preparing for another big free agent addition or two? While it certainly is likely, the team does seem to be headed in the direction of youth across their roster rather than adding more aging veterans as they have in past years. Aside from adding more talent, however, could general manager George Paton be looking to commit to a full rebuild with a few more releases?
3 Broncos who could soon be released:
1. DT D.J. Jones
The most obvious cut candidate at this point is veteran defensive tackle D.J. Jones. The 29-year-old run-stuffer is coming off a disappointing season stopping the run, despite the addition of defensive end Zach Allen. Not to mention, with the new signing of former Saints defensive tackle Malcolm Roach, this could be a subtle hint that Denver is looking to rebuild their interior defensive line and move on from Jones after two seasons. Despite having a great first season in Denver in 2022, Jones ultimately hasn't proved he can live up to his contract. Releasing Jones will save the Broncos $10M in effective cap space.
2. RB Samaje Perine
Surprisingly, running back Samaje Perine could become a potential cap casualty in the coming days or hours, even after just one season in Denver. If Sean Payton wants to add a different dynamic to the running back position and finds a more appealing option through the free agent market or draft, he could look to move on from Perine and save $3M in cap space. Given his elite receiving ability, Perine is worth the base salary he is earning, however, this move would be made to accommodate the next quarterback's needs.
Former Broncos quarterback Russell Wilson greatly benefited from Perine in two-minute situations last season. We're not exactly sure if Denver's next starter will need to heavily utilize a running back in the passing game on third downs in 2024.
3. WR Courtland Sutton
Talk about surprising, this would definitely catch a ton of people in Denver by surprise. It certainly isn't likely considering if Denver were to decide to move on from Sutton, it would be more likely via trade. However, we have witnessed crazier things in this league. I do expect the Broncos front office to approach Courtland Sutton about a contract restructure and if not agreed to by both parties, a trade scenario could come into play.
Something should be known this week on the status of #Broncos WR Courtland Sutton. His 2024 contract number is a nonguaranteed $13 million but $2 million becomes guaranteed if still on the roster Sunday. Options are keep him on roster, renegotiate contract, trade him, release him
— Chris Tomasson (@christomasson) March 13, 2024
If by any means the Broncos are unable to find a trade partner, Denver would ultimately have to either retain Sutton and his $17.4M cap hit or move on from his talents via release and save roughly $10M in cap space. A release would be the worst-case scenario and while I don't personally see the Broncos moving on from Sutton this offseason altogether, anything is possible when you are in the midst of a rebuild.