The Broncos are no longer in the midst of their “Extreme Makeover: Home Edition” era.
There is always some refurbishing and refreshing to do, however.
Head coach Sean Payton and general manager George Paton, in the past month, have each expressed confidence in Denver’s roster and also acknowledged that there are areas in need of upgrade.
The Broncos must find more offensive playmaking. They must fill some gaps at linebacker, running back and tight end.
That quest starts in earnest this week, as Denver considers whether to push to retain any of its impending free agents and then hits the legal tampering period with all free agents beginning Monday.
As an organization, the Broncos boast the best salary cap health they’ve had in years. Russell Wilson is finally, officially off their books when the 2026 league year begins on March 11.
Denver as of Thursday sports just $1.2 million in dead salary cap, the third-lowest mark in the NFL after Chicago traded receiver D.J. Moore to Buffalo.
Payton pointed to that reality after the season when asked about Denver’s ability to improve this offseason.
“If I said I’m going to give you $50,000 to decorate your home or $200,000, your home’s going to look nicer, I think, if you’re a decent shopper, if you have more money.
“The same takes place with our sport.”
Denver’s basically debt-free, but the club has also already spent some of its decorating money.
In fact, last year the Broncos went into free agency with about $40 million in cap space. They could do so again this season by moving money around, restructuring a couple of contracts and perhaps cutting a player or two — some of that kind of work is expected in the coming days — but at the moment they’re sitting at around $21 million in space, according to OvertheCap data.
The Broncos have been on a big run over the past 18 months, rewarding 10 of their own players with long-term deals. They got a jump on free agency, in a way, over their bye week last fall by getting deals done with a trio of impending free agents in C Luke Wattenberg, DL Malcolm Roach and K Wil Lutz.
“Just think if we didn’t get those guys wrapped up, what we’d be facing,” Paton said last month at the NFL Combine. “Every offseason is a little bit of, ‘Wow, how are we going to feed…’ But if we didn’t have all those guys done, just think of how much more daunting the offseason would be. It’s really important to get ahead of it.”
Then Denver used another $5.8 million in space to place a second-round restricted free agency tender on nickel Ja’Quan McMillian, though that number would change if Denver works out a long-term deal with him in the coming months. The Broncos also agreed to a two-year deal with Alex Palczewski on Thursday and they’ll need about $4 million in space for their draft class next month, based on their current selections.
With those numbers in mind, here is a non-exhaustive list of players the Broncos could look to if they’re trying to create more cap space.
Cut/restructure candidates
OL Ben Powers
Powers has no guaranteed money left and a 2026 cap number of $18.155 million. He’s a prime candidate for… something. Perhaps the best all-around option is lowering his pay for 2026 but also guaranteeing it. Denver could cut his cap number almost in half by guaranteeing him $8-10 million, paying it as a bonus and prorating it out. That would increase the cap hit involved in potentially cutting him a year from now, but not so dramatically as to be prohibitive. Cutting or trading Powers now leaves $9.775 million in dead cap to go with $8.38 million in savings.
ILB Dre Greenlaw
Greenlaw signed a three-year deal last spring, but it was essentially one year, $11.5 million and we’ll see. Now, we’re about to see. Greenlaw played well when he was on the field, but staying on the field was an issue. Cutting the linebacker would save $6 million on the cap and incur $4.33 million in dead cap. It’s really just a matter of if the Broncos want him back on the roster in 2026.
TE Evan Engram
Engram’s deal was a two-year pact last spring, but it came with stronger guarantees than Greenlaw’s. Cutting the veteran would save $3.8 million on the cap but incur $10.33 million in dead cap. Certainly not impossible for Denver to swallow, but it also doesn’t make much sense unless the Broncos really think his skills are diminished or they have a ready-made replacement. At the moment, they do not.
OL Matt Peart
A fairly straightforward one here. Peart was signed last spring as a swing tackle, but Palczewski and Frank Crum both showed signs of promise during the season after Peart tore his MCL in Week 6 in London. Denver can save $3.225 million and take $750,000 in dead cap by releasing him.
Extension candidates
S Brandon Jones
Jones is entering the final of a three-year, $20 million deal that’s been a bargain for the Broncos. He did miss the stretch run of the regular season and the playoffs with a torn pectoral, but he’s been a high-quality player for Denver. Jones carries a $9.243 cap number into 2026, which could be dropped substantially with an extension. If the Broncos want to explore other safety options on the market or think they’ve seen Jones’ best ball, they could save $7.41 million and take $1.83 million dead by cutting him.
WR Marvin Mims
Mims is entering the final year of his rookie deal and carries a $6.12 million cap number. That’s not huge, obviously, but an extension would likely bring it down some. Payton’s talked about finding more touches for Mims, but part of the challenge in an extension is the sides agreeing on appropriate value given Mims’ on-again, off-again usage so far and his terrific return ability. Perhaps a mid-season revisit makes more sense.
Hold the line
RT Mike McGlinchey
The Broncos have Palczewski under contract for two years after Thursday’s agreement, but they’re not likely to cut McGlinchey and incur $15.325 million in dead cap along with $8.45 million in cap savings. Especially after McGlinchey played arguably his best football in 2025. In fact, a short extension might feel tempting because of the quality of play and the potential to lop $10 million or more off the 2026 cap. The prudent move, though, is to get through the upcoming season with McGlinchey at his current, team-high $23.775 million cap charge and decide what the future at right tackle looks like from there.
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