The fastest way the Denver Broncos can create $60 million in cap space

The Denver Broncos are over the 2024 cap number, but do have many avenues to create millions of dollars in cap space.

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Denver Broncos / Candice Ward/GettyImages
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The Denver Broncos are currently over the 2024 cap number, so they will have to make various moves to give themselves some breathing room in the coming season. According to Over The Cap, the team is currently $23.670 million over the 2024 cap number. That may seem like a huge problem, but the Broncos are also a team that has a ton of contractual flexibility.

They can easily erase their surplus in 2024 and can even give themselves millions to spend. The team surely isn't going to be as active in free agency in 2024 as they were in 2023, but they could make some lower-tier free agency signings. Signing cheaper players who fit what Sean Payton wants to do might be the Broncos' plan of attack in a couple of months.

I do think, however, the team can make a splash signing, especially on defense. Denver has needs all along that side of the ball, and the free agent market is currently favorable for the Broncos to add on that side of the ball.

Let's look at how easily the team can create $50 million in cap space

The Broncos can trade Jerry Jeudy

The Broncos should probably pull the plug on the Jerry Jeudy experiment. I think both sides should seek a fresh start. Jeudy has had his flashes since being drafted in the first round of the 2020 NFL Draft, having a 1,000-yard season in 2022. Jeudy's skillset does profile nicely in Sean Payton's offense, and he is set to enter his age-25 season.

There is reason to keep Jerry Jeudy, especially with the uncertainty among the other WRs on the roster, but the Broncos should get a draft pick back for his services, paying the way for Marvin Mims Jr and perhaps a rookie draft pick to stabilize the WR room. Trading Jeudy can save the Denver Broncos $12,987,000

2024 Cap Savings: $12,987,000