After reaching an agreement in principle to acquire quarterback Joe Flacco from the Ravens for what is reported to be a fourth-round pick, the Broncos appear prepared to move on from QB Case Keenum.
Denver will try to trade Keenum, according to NFL Network’s Ian Rapoport. If the Broncos cannot find a trade partner, the team is expected to restructure his contract or release him.
Keenum would be a quality backup for any team — including Denver — but his price tag is too steep for a backup. The soon-to-be 31-year-old is set to have a base salary of $18 million in 2019 with a $21 million cap hit.
If the Broncos cut Keenum, his contract would give the team a $10 million dead-money cap hit. That would still be a net savings of $11 million, but trading his contract to another team or restructuring Keenum’s contract would be better options than releasing him.
Flacco will have a cap hit of $18.5 million this year. His contract includes a team option for 2020. If the Broncos do not pick up his option, Flacco would become a free agent next March.
