The Denver Broncos can trade Justin Simmons
Justin Simmons turns 31 during the 2024 NFL Season. He's got one more year left on his deal, and probably would not be re-signed by the Broncos next offseason. This is the time to trade Simmons. He's been with the Broncos since 2016 and has never experienced a playoff game in his NFL career. And with another strong season in 2023, the Broncos can probably yield a respectable draft pick.
A team like the Houston Texans or Detroit Lions, two teams who are clearly in a win-now mode and have reason to add in free agency, would make a ton of sense for Justin Simmons. The former third-round pick is currently the longest-tenured player on the Denver Broncos, and I am sure he'd like to be a part of a winning season in Denver, especially with how much work he has put in for the team.
However, a trade in 2024 saves the Broncos $14,500,000, so the move is a no-brainer.
2024 Cap Savings: $27,487,000
The Denver Broncos can cut Jarrett Stidham
The Denver Broncos can do better with their bridge QB than Jarrett Stidham. There are going to be better QB free agents this offseason, so the Broncos should not hesitate to upgrade. Someone like Jacoby Brissett or even Gardner Minshew make much more sense than Stidham, who got two starts for the Broncos in 2023.
Stidham signed a two-year, $10 million contract with the Broncos last offseason. Cutting him saves the Broncos $5 million in 2024.
2024 Cap Savings: $32,487,000