Costly Departures: The Top 10 Ex-Broncos Draining Denver’s Cap in 2024
The Denver Broncos made a bold and costly decision this past offseason by parting ways with quarterback Russell Wilson, a move that reverberates throughout their 2024 salary cap. The decision to release Wilson came with significant financial consequences, leading to the largest dead money cap hit in NFL history: $53 million this season and $32 million next season. This unprecedented figure highlights the financial burden the Broncos accepted in order to move on from their former franchise quarterback.
Dead money refers to the cap space taken up by players no longer on a team’s roster but still owed guaranteed money. For the Broncos, Wilson’s departure represents the most substantial portion of their dead money. However, Wilson is not the only former player impacting Denver’s salary cap in 2024. Several other ex-Broncos are also contributing to the team’s tight financial situation.
Linebacker Randy Gregory, released after a tumultuous tenure in Denver, accounts for $7.1 million in dead money. Gregory was signed to a five-year, $70 million contract in 2022 but was let go after failing to meet expectations. His substantial cap hit is a reminder of the risks involved in high-profile free-agent signings.
Defensive back Justin Simmons, a former All-Pro and cornerstone of the Broncos’ defense, also adds to the dead money total with $3.75 million. Simmons was a fan favorite and one of the best safeties in the league, but his contract was deemed too burdensome as the Broncos sought to rebuild.
Running back Samaje Perine, signed in 2023 to provide depth in the backfield, was released after just one season, leaving behind $1.5 million in dead money. Similarly, kicker Brandon McManus, a long-time Bronco and Super Bowl 50 champion, counts $1.2 million against the cap after being released in a cost-saving measure.
Other former Broncos contributing to the dead money tally include outside linebacker Frank Clark ($1.125 million), tight end Chris Manhertz ($1.125 million), defensive back Omar Brown ($231,666), and defensive lineman Angelo Blackson ($167,500). Each of these players represents a missed opportunity or a necessary sacrifice in Denver’s quest to balance their books and build a more competitive roster.
As the Broncos head into the 2024 season, they face the challenge of competing in a tough AFC West with limited cap space. The team is right up against the cap, leaving little room for flexibility. However, there is light at the end of the tunnel. By 2026, Denver will be free of Wilson’s contract, potentially providing the financial freedom needed to rebuild around a new core of players. Until then, the Broncos must navigate the financial strain imposed by past decisions, hoping that their current roster can overcome the challenges ahead.
JMG
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