Denver Broncos general manager John Elway is going to have a busy offseason. In addition to having seven picks in the first four rounds of the 2020 NFL draft, Elway will also have plenty of salary cap space available during NFL free agency.
Denver did not use $14.78 million of its 2019 salary cap space, according to NFL Players Association records accessed Thursday evening. That means the Broncos will be able to roll over that unused 2019 cap into their 2020 total.
The NFL has estimated that it’s 2020 salary cap total will be between $196.8-$201.2 million. Add in Denver’s rollover cap space and the Broncos will have a 2020 cap of between $211.58-$215.98 million.
Denver currently has $150,873,545 worth of contracts counting against its 2020 cap, according to OverTheCap.com. Subtract that the team’s projected cap of $211.58 million and the Broncos have $60,706,455 in salary cap space. Elway could create even more space by cutting a few veterans.
Denver could save $10.05 million by cutting quarterback Joe Flacco and $8.5 million by parting ways with guard Ron Leary. Making those two moves would bring the team’s salary cap space to $79,256,455. It’s safe to say Elway could make some big splashes with nearly $80 million.
The 2020 league year — and free agency — will begin on March 18.
