The days of Justin Simmons in Denver are over.
On Thursday, the eight-year veteran safety was released by the Denver Broncos. Simmons, 30, is a four-time All-Pro and a two-time Pro Bowl player. After being selected in the third round of the 2016 NFL Draft, he became the Bronco with the longest tenure. Since joining the league, Simmons has the most interceptions in the NFL.
In 2024 salary cap space, the Broncos saved $14.5 million by releasing Simmons. The Broncos are reportedly $2.7 million over the salary cap, according to OverTheCap.com. The Broncos are $5.5 million over the salary cap, according to Spotrac.com.
By Wednesday, the first day of the new league year, the Broncos have to adhere to the pay cap.
What steps will they take then to get the last few million dollars?
One thing, though, they will not do is trade players to make room.
The NFL is still officially in a dead period for trading, which runs from the trade deadline in October to the beginning of the next league year, even though teams are free to discuss and come to agreements. Trade players won’t free up any room for the Broncos because deals can’t be completed until after the league calendar flips to 2024.
Restructuring contracts is the simplest approach to avoid the pay cap. The Broncos may split the budget hit for this season over the length of the contract and pay players their salary until 2024 upfront. For example, this strategy might postpone Mike McGlinchey’s $10 million salary cap hit until later.
However, Simmons’ release could indicate that the Broncos would have a difficult rebuilding season. And in such scenario, they won’t likely want to postpone paying payments.
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