3 ways the Denver Broncos can create more cap space in 2023

If the Denver Broncos still have another major move or two up their sleeves, they may want to create some more cap space, and we've got a few ways that they can do that. I don't think the Broncos are actively trying to make a major move at the moment, but you never know.

They've been very aggressive thus far, and might decide to make another move to make the roster even stronger than it is right now. According to overthecap.com, the Broncos rank near the bottom of the NFL with $8.8 million in cap space.

That is enough to make another move, but in relation to other teams in the NFL, it's virtually nothing. Perhaps Denver wants to pursue a free agent upgrade like Ben Jones, Yannick Ngakoue, Dalvin Cook, or someone else?

There still are free agents out there who could realistically command a hefty contract, and if Denver is serious about winning this year, they could act on those player demands. Let's look at three ways the Broncos can create more cap space in 2023.

Three ways the Denver Broncos can create more cap space in 2023

1. Restructure Justin Simmons' contract - Savings of $6,617,500

The first move that Denver could make is to restructure the contract of Justin Simmons, who is under contract through the 2023 and 2024 seasons. Simmons plays a position that doesn't have a ton of value at safety, but he's proven to be the best in the NFL at what he does.

He truly is the glue of the secondary and has been with the Broncos since 2016, so he's endured the entirety of the "world of suck" Denver has gone through. The Broncos might not want to touch his contract as they could have cap savings of over $14 million next year if they were to trade him, but if they're committed to 2023, a restructure could save over $6 million for the team.

2. Cut Mike Purcell - Savings of $3,500,000

This could actually be a move that the team makes no matter what. Having potential cap savings of $3.5 million for a backup DL could be too good for the team to pass up. Purcell is in his 30s and was replaced last year in free agency by DJ Jones.

He's also likely fighting an uphill battle to make the roster as it is with two young guys in Eyioma Uwazurike and Matt Henningsen offering a long-term solution. The addition of Frank Clark along the defensive line could also cloud things for Purcell, who was at one point one of the best run stuffers in the NFL.

His time with the Broncos might be coming to an end.

3. Trade Josey Jewell - Savings of $4,880,000

I flirted with this idea in a recent article, and I was even talking to Predominantly Orange Site Expert Sayre Bedinger about this possibility. Both of us concluded that it doesn't seem that wild of a thing to happen. The Broncos drafted a likely Jewell replacement in Drew Sanders in the 2023 NFL Draft.

Alex Singleton re-upped with the Broncos on a three-year contract this offseason, so he isn't going anywhere. The team also has a potential starter in Jonas Griffith as a projected ILB reserve. Well, could Sanders simply push Jewell off the roster? I think it's very possible.

Jewell has struggled to stay healthy in recent seasons, and the Broncos may feel comfortable going with a top three of Singleton, Sanders, and Griffith.

All in all, the Broncos could save nearly $15 million if they went with these three moves. That would put them well over $20 million in available space, giving them the power to make another major move or two.