Speaking to NFL Network’s James Palmer on Wednesday, Denver Broncos general manager John Elway confirmed that the team will not restructure quarterback Joe Flacco’s contract.
The Broncos officially acquired Flacco on Wednesday when the team traded a fourth-round pick (No. 113) to the Baltimore Ravens in exchange for the QB. Denver also inherited Flacco’s contract in the trade, which was first reported last month.
Flacco is set to earn $18.5 million in 2019, $20.25 million in 2020 and $24.25 million in 2021, according to Spotrac.com. Here’s the thing, though: the Broncos could cut Flacco at any time without a “dead-money” cap hit.
If Denver drafts a QB this year and he looks ready to start in 2020, the Broncos could save $20.25 million in salary cap space by cutting Flacco. And the team wouldn’t have to sacrifice any cap space to move on from him.
Some fans and pundits have questioned Elway’s decision to trade for Flacco, but the deal makes financial sense. Flacco is a better quarterback than Case Keenum, so there should be on-field benefits. Flacco’s contract also gives the team salary cap flexibility, which is another benefit.
This is a low-risk trade for Denver with potential for high reward.
