5 best cap-clearing moves that Broncos can make before free agency begins
Team needs to make a big decision regarding one of the top two WRs
Releasing a fan favorite
Process full base salary conversion for Mike McGlinchey
Move would free up $11.1 million in cap space
The Broncos signed right tackle Mike McGlinchey to a massive deal in free agency last offseason and he failed to play up to anywhere close to the level that most likely expected. He held his own in the run game but was quite average as a pass-blocker and brought forth too many penalties.
In other words, he wasn't much better than the players the team used at right tackle in 2022 and as a result, was not worth the money the team spent on him.
The Broncos don't have a lot of great options with him, but one thing they can do is convert his base salary into a prorated signing bonus. You see teams do this frequently in today's league and the entire reason for it is to create temporary salary cap space.
The Broncos could not only do this with McGlinchey but also with the other offensive lineman they signed in free agency last year, Ben Powers. If the team converted the base salaries of both of those players into signing bonuses, it would save a total of $19.8 million toward the cap.
Release D.J. Jones
Move would free up $10 million in cap space
The Broncos signed defensive tackle D.J. Jones to a three-year, $30 million deal in 2022. In two seasons with the team, he has been far from terrible, but he also would not be a difficult player to replace.
When you can create a double-digit figure in cap space for a marginal player, that is something you pretty much have to do when you are hurting for that cap space.