The Denver Broncos have informed quarterback Joe Flacco that he will be waived with a failed physical designation. After making the move official, Broncos general manager John Elway will have more salary cap space available.
Denver will eat $13.6 million in “dead money” — money that was already paid to Flacco that will count against the team’s cap this year, according to Spotrac.com. Because the QB’s $20.25 million salary will no longer be accounted for though, the Broncos will have a net savings of $10.05 million in cap space.
That brings the team’s total salary cap space available to $33,456,437, according to Spotrac, not including Graham Glasgow’s cap hit.
That total of more than $33.4 million does account for QB Jeff Driskel ($1.75 million), cornerback A.J. Bouye (over $13.4 million) and defensive lineman Jurrell Casey (close to $11.8 million).
That estimate does not include Glasgow’s cap charge because the details of the offensive lineman’s contract are not yet known. Glasgow will earn an average of $11 million per season but that doesn’t necessarily mean he will have a salary cap hit of $11 million in 2019.
For the sake of simplicity, though, we can subtract $11 million from Spotrac’s estimate and calculate that the Broncos have over $22.45 million in remaining cap space. Elway’s probably not done making moves yet. We are tracking all of Denver’s free agency transactions here.
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