5 moves the Broncos can make to free up $50 million in cap space

The Denver Broncos have a plethora of avenues they can go down to free up upwards of $50 million in cap space this offseason. These five realistic moves can help them do that. Currently, according to Over The Cap, the Denver Broncos are nearly $17 million over the cap for 2024. That might seem like a huge disadvantage, but the team has a plethora of opportunity to get into a strong spot with their cap space.

Given that the Broncos won eight games in 2023 with a below-average QB and a below-average roster, it's not crazy to think that with a smart free agency period and strong 2024 NFL Draft, the Broncos could squeeze two more wins out of their team from 2023. I don't think the Broncos finishing with a winning record in 2024 is totally unrealistic.

They need to start that process by creating enough cap space to make savvy and economical decisions in free agency, which will then pave the way for the 2024 NFL Draft. Here are five moves the Broncos can make to create over $50 million in cap space.

1. Extend LT Garett Bolles: $11,632,000

With significant cap savings available by extending Garett Bolles, the Broncos should put a contract offer in front of him, in hopes that he can retire as a Denver Bronco. Even though Bolles has never experienced a winning season in the NFL, money talks, so perhaps a strong extension offer is enough for him to want to stay.

Now, with the current situation along the offensive line, bringing Bolles back in 2024 might not be an option. The Broncos could have more interest in re-signing Lloyd Cushenberry, their breakout center who is set to be a free agent in 2024. Stud right guard Quinn Meinerz is now eligible for an extension this offseason, and you could argue that both Cushenberry and Meinerz are better than Bolles at this moment.

Both are significantly younger, so the latter two might fit more into the Broncos long-term plans, which is something else to consider. However, the Broncos do have a ton of reason to try and keep Garett Bolles in Denver.