The Denver Broncos agreed to terms on a two-year contract with tight end Nick Vannett on Saturday. Thanks to KUSA-TV’s Mike Klis, we now know the details of that contract.
This year, Vannett will have a $1.75 million signing bonus, a $1 million base salary and a $250,000 game bonus, according to Klis. His signing bonus will be prorated over the next two years so Vannett’s salary cap hit in 2020 will be $2,078,125, according to OverTheCap.com.
After subtracting Vannett’s cap hit from our most recent cap estimate for Denver, we can calculate that the Broncos now have around $13.325 million in remaining cap space. That rough estimate will likely change after we learn the contract details for new offensive lineman Graham Glasgow.
Next year, Vannett will have a non-guaranteed salary of $2.25 million, a workout bonus of $100,000 and a max game bonus of $350,000. After adding his prorated signing bonus into the equation, Vannett’s salary cap hit in 2021 will be $$3.575 million, according to OTC.
Because Vannett’s salary is not guaranteed next year, Denver could cut him with a “dead money” cap hit of just $875,000.
We are tracking all of the Broncos’ free agency moves here.
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