Cut Tim Patrick
This one will be a tough decision, but the Broncos are going to have to try and create some cap space and they simply can't justify paying Tim Patrick, who hasn't been able to suit up for two full seasons due to injury, what he is owed in 2024.
Patrick has a cap number of $16 million. To cut him would lead to $6 million more in dead money but would also create a cap savings of $10 million. That is a move that you have to make.
Patrick was really starting to grow into a consistent option for the Broncos as he caught 143 passes in four seasons and in 2021 and 2022, had 11 total touchdowns. It's a shame that he and Wilson were never able to share the field together and his loss has been one of the biggest (and often overlooked) factors in the Broncos' offensive struggles the past two seasons.
Patrick will have to show that he is recovered from the serious knee issues that have kept him off the field since 2021. He also recently turned 30 years old.
But if he can make it all the way back, one option would be to come back to Denver with a new contract that could include some performance-based incentives.