The NFL informed teams Wednesday that this year’s salary cap will be $182.5 million, representing the first decrease in 10 years.
Because of the coronavirus pandemic, which resulted in closed stadiums or heavily-reduced attendance figures, the owners and NFLPA crafted a plan to spread out the damage of the lost revenues.
Last year’s cap was $198.2 million, the eighth consecutive year it went up by at least $10 million.
Despite the cap drop, the Broncos and new general manager George Paton still have flexibility entering the start of free agency March 17. According to figures provided by a league source …
- The Broncos rolled over $18,309,316 of last year’s leftover cap space to this year.
- They have $44,975,008 of cap space not counting safety Justin Simmons’ unsigned franchise tender (estimated $13.729 million).
- And if Simmons signs the tender before agreeing to a long-term deal, the Broncos have $31,246,008 of space.
Paton can create space over the next week by cutting third-string quarterback Jeff Driskel ($1.75 million in savings) and asking outside linebacker Von Miller and safety Kareem Jackson, who are currently carrying cap numbers of $22.125 million and $12,882,353, respectively, to take pay cuts.
On their current cap chart, the Broncos have only one player (Miller) with a number of more than $13 million and have only four players (Miller, Jackson, right tackle Ja’Wuan James at $13 million and right guard Graham Glasgow at $11,906,250) at more than $10 million.
Fifth-year options set. The NFL sent teams the fifth-year option salaries (2022 season) for 2018 first-round draft picks.
For Broncos outside linebacker Bradley Chubb, his salary will be $12,716,000 because he was selected to one Pro Bowl. Teams have until May 3 to exercise the options on those first-round picks.
