ENGLEWOOD, Colo. -- As the Denver Broncos launched themselves into free agency earlier this year, many in the league were quick to compliment the team's salary-cap standing that enabled them to be so aggressive. And John Elway, the team's top football decision-maker, has routinely said he doesn't want to do so many things "that we're right up against the cap. We want to stay competitive, compete for world championships and that means handling ourselves in that arena, too."
But as the Broncos continue to try to get a long-term deal done for wide receiver Demaryius Thomas, they are nudging up against their cap restrictions.
Currently, at least until the rosters league wide are cut to 53 players following the fourth preseason game, teams only have to be under with their top 51 salary-cap figures. That puts the Broncos under the cap right now, but with their top 51 coming in at just over $132 million (the cap baseline is $133 million per team) they will have to do at least some work before the end of the preseason -- even with some accounting benefits like rolling over some unused cap space from 2013 -- to sign Thomas, get 53 players under the cap and have enough room to effectively deal with any potential players on injured reserve.
And for a team that had just $24 million worth of salary-cap charges for players on injured reserve by the time they loaded the plane for their Super Bowl trip -- most of that was left tackle Ryan Clady, who signed a new long-term deal with the team last offseason -- that is not something to take lightly.
Overall, the Broncos have about $4.6 million of workable cap space after counting their top 51 contracts, including rollover from last year, as they turn toward training camp. So it’s a good time to take a look at some money matters and where things stand at some of the notable spots on the depth chart.
Quarterback Peyton Manning has the team’s highest cap figure, at $17.5 million and the Broncos have the biggest cap gap of any position between starter and backup with No. 2 Brock Osweiler, still on his rookie deal, coming in at $959,094 against the cap.
Decisions are coming at tight end. Of the seven tight ends on the roster at the moment, the top five will be unrestricted free agents following the 2014 season, a list that includes Julius Thomas, Jacob Tamme and Joel Dreessen. Tamme’s $3.5 million cap figure leads the way at the position, just in front of Dreessen’s $3.1 million. Dreessen has not participated in the team’s offseason program because of knee troubles.
Of the six Broncos players who currently have cap figures of at least $7 million for '14, four play on offense and two – Clady ($8.6 million) and guard Louis Vasquez ($7.25 million) – are offensive line starters. So, to be Manning, or play nearby in the formation, is where the big money is. Ware and cornerback Aqib Talib – both free agency signings this past March – are the defensive players among the six.
The Broncos’ biggest dead-money hit – salary-cap charges for players no longer on the roster – is $2.1 million for cornerback Dominique Rodgers-Cromartie, who had the second year of his original contract with the Broncos voided five days after the Super Bowl. Other notable dead-money charges are $1.83 million for the retired Chris Kuper and $500,000 for Willis McGahee, who was cut over a year ago.
Best value contract for the Broncos has to be linebacker Danny Trevathan, who led the team in tackles last season and checks in at a $596,018 cap figure, or behind Von Miller ($6.613 million) and Nate Irving ($848,750). Overall, Miller is the only linebacker on the team’s roster with a cap figure over $1 million, a fact that will change when Trevathan’s deal is up after the 2015 season.
Though defensive tackle Terrance Knighton’s representatives had been hoping for a renegotiation after Knighton’s high-quality play down the stretch last season – the Broncos declined the overtures – he still leads the team’s defensive tackles with a $2.75 million cap figure.