Three ways the Denver Broncos can still create some cap space

According to spotrac.com, the Denver Broncos have just under $8 million in cap space. How could they create a little bit more before the 2023 season? Creating cap space at this point might not be an urgent task, but depending on how the 2023 NFL Draft goes, Denver might need to sign another free agent or two to round out their roster.

For example, if Denver doesn't land a potential starting center, they might way to sign free agent Connor McGovern. They also could still make a significant trade or two depending on quite a few factors. Point is, Denver's cap space right now is fine, but they have ways to create some more if the situation were to arise.

Three ways the Denver Broncos can still create some cap space
1. Restructure Justin Simmons' contract

The first move Denver can make could free them over $6 million in cap space, according to Overthecap.com. Restructuring Justin Simmons' contract could be an obvious choice. Simmons has been the true definition of a team player and has endured all of the painful post-Manning years.

He was tied for the league lead in interceptions this season, even though he only played in 12 games and turns 30 during the 2023 season.

2. Cut/trade Garett Bolles

A post-June 1st trade of Garett Bolles would save Denver nearly $14 million on their cap number, but they'd have to eat $4 million in dead money. An outright release would save Denver nearly $12 million, but they'd have to eat $6 million in dead money.

There have been some rumblings that Bolles wouldn't be on the team come 2023, but as of now, he's still on the roster. Denver could rid themselves of Bolles if they wanted and could turn around to sign someone like Donovan Smith or Taylor Lewan, two talented left tackles who are still on the market.

And honestly, I don't think Garett Bolles is with the team for 2024 at the very least. Don't be surprised if Denver looks at left tackles in the 2023 NFL Draft.

3. Restructure Tim Patrick's contract

Tim Patrick is coming off of a torn ACL but should be full-go for the 2023 season. If the Denver Broncos were to restructure his contract, they'd save about $3.5 million, which is decent savings. Patrick's absence from the offense in 2022 proved to be more costly than I think a lot of us thought.

His healthy return to the lineup is something that is going to have a huge impact on the offense, and I think Sean Payton is going to be able to adequately deploy all of Patrick, Courtland Sutton, and Jerry Jeudy within the offense.