Here's a look at the ways the Broncos could proceed in free agency, the benefits of new ownership and the risks of too much proration.
Now comes the last big part of the calendar that they’ll be going through for the first time: Player acquisition season.
So, how will it look? Payton’s track record and the Walton-Penner Family Ownership Group’s resources suggest the franchise is in prime position to be aggressive, though there are also cautionary tales around the league in pushing salary cap tools toward the limit.The NFL’s 2023 base salary cap is $224.8 million, but each team’s actual mark is slightly different, and, more substantially, teams can use all sorts of accounting maneuvers to create space.
As long as the salary cap keeps going up each year, that prorated portion of the bonus is less onerous on the salary cap in the future than it would be in the present. In the lead-up to free agency, clubs all over the NFL are doing this in earnest. Miami, for example, cleared $44.5 million by executing conversions with three players – Armstead, wide receiver Tyreek HIll and former Broncos edge Bradley Chubb – this past week.
Over The Cap’s data suggests if the Broncos restructured every contract they can, they’d create more than $48 million in additional cap space. Gregory, Sutton and Jones may be the most logical candidates for conversions because large percentages of their 2023 salaries are already guaranteed. So one potential approach for the Broncos is to essentially convert and cut as they need to once free agency approaches. Should the right player become available, do what needs to be done in order to sign him. If not, avoid needlessly pushing cap charges into the future if they can be accounted for in 2023.
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