Tag: Greg Penner

Broncos projected to be $24 million over salary cap in 2024

The Broncos are projected to be $24 million over the NFL’s salary cap in 2024. Denver will need to make some tough decisions.

The NFL’s salary cap is expected to rise above $240 million in 2024, a significant jump from $224.8 million in 2023.

Despite that (expected) increase, the Denver Broncos will have to get creative to get below the salary cap this spring. The Broncos are projected to be about $24 million over the cap in 2024, according to a projection from Jason Fitzgerald of OverTheCap.com.

To get below the cap, Denver could release select players and restructure select contracts (simple restructures would be an easy start). In addition to being over the cap, the Broncos will be eating some serious “dead money” if they release quarterback Russell Wilson in March as expected.

Depending on when the cut is designated, Wilson’s release could give the team a dead money cap hit of $35.4 million (post-June 1) or $85 million (pre-June 1) in 2024. A post-June 1 release seems like the most likely scenario, and Wilson is already on the books for $35.4 million in 2024 regardless of whether or not he’s on the team.

Denver has multiple starters scheduled to become free agents in March, so the team’s cap situation could force some tough decisions this spring. Despite being at least partially responsible for the Wilson situation and cap mess, general manager George Paton is not expected to be fired.

So the Broncos are set to go into 2024 with Sean Payton and Paton leading the way. There’s a lot of work to be done.

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Here’s the latest on the status of Broncos GM George Paton

Despite the Russell Wilson trade and contract fallout, the Broncos are expected to bring back GM George Paton in 2024.

After trading for quarterback Russell Wilson last year and then giving him a massive contract extension, Denver Broncos general manager George Paton has faced heavy scrutiny from fans and pundits in recent months.

Despite the recent backlash, the Broncos are expected to bring Paton back for the 2024 season, according to a report from NFL Network’s Ian Rapoport.

“Paton is viewed as safe inside the organization, sources say,” Rapoport wrote on Sunday. “Based on his overall evaluation talents and a strong working relationship with Sean Payton since the head coach arrived last offseason, all indications are Paton should stay on.”

ESPN’s Adam Schefter reported Saturday that “Payton is expected to have the final say” on Paton’s status. Schefter went on to write that “it is his organization, and he gets to shape it how he wants it.”

After some pushback from the team via a report from KUSA-TV’s Mike Klis, Schefter edited his report to now read: “Payton has significant authority and influence over the shaping of the team’s football operation.”

After Schefter’s original report stated it was Payton’s decision, Klis pushed back on Saturday evening with this: “Despite national speculation surrounding Paton as general manager because of the Wilson trade and contract extension, Paton works well with Payton and owner Greg Penner. … While Payton has significant influence with the team’s football operations, it would be Penner who would make the ultimate call on any change of this magnitude.”

In the end, the framing of who makes the decision seems to be semantics — Schefter’s original phasing and Klis’ stance can both be true. Penner is the literal boss so he obviously gets the final say, but he’s going to give the coach what he wants after placing the team in Payton’s care.

If Payton wants Paton fired, Penner will fire the GM. If Payton wants Paton to return, the GM will return — and it sounds like that’s what will happen in 2024. Paton will continue leading the team’s draft prep and salary cap plight while Payton remains involved across the board. It’s Payton’s team, but there’s room for Paton in the front office.

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Greg Penner becomes Broncos’ controlling owner

Greg Penner was already handling the Broncos’ day-to-day ownership duties. He is now officially the team’s controlling owner.

When the Walton-Penner family purchased the Denver Broncos last year, Walmart heir Rob Walton purchased a majority of the team, but his son-in-law, Greg Penner, has been serving as the team’s day-to-day owner.

Penner has been listed as a co-owner and chief executive officer on the team’s official website. Going forward, Penner will be the team’s new controlling owner after Walton transferred part of his ownership stake to his grandchildren, according to The Denver Post‘s Parker Gabriel.

The four children of Greg and Carrie Walton Penner now have ownership in the team, but they will have no team duties in the foreseeable future.

To be considered a controlling owner in the NFL, Greg Penner must own at least 30% of the team. It’s unclear exactly how the percentages break down between Rob Walton, Greg Penner, Carrie Walton Penner and the grandchildren.

The Walton-Penner family purchased the team for $4.65 billion last year. They then brought in Condoleezza Rice, Lewis Hamilton and Mellody Hobson as minority owners. The team is now worth an estimated $5.1 billion, a 10% increase from 2022.

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POLL: Should the Broncos fire GM George Paton?

Should the Broncos fire GM George Paton? Vote in our poll!

Denver Broncos head coach Sean Payton is in danger of matching the worst six-game start in franchise history if his team falls to 1-5 on Thursday.

The Broncos traded a first-round draft pick to the New Orleans Saints for Payton’s rights this offseason, though, so ownership seems unlikely to move on from the coach quickly. In a rebuilding phase, Payton will likely be given time to reshape the roster over the course of more than one season.

Denver’s general manager, however, might be a different scenario.

George Paton played a role in the team’s decision to hire coach Nathaniel Hackett last year, a move that proved to be a disastrous decision. Paton also traded valuable assets to acquire quarterback Russell Wilson from the Seattle Seahawks last offseason.

Paton also gave Wilson a five-year, $245 million contract last year, and he gave pass rusher Randy Gregory a five-year, $70 million contract in 2022. Paton’s drafts have featured several big hits, but many of his big free agent signings have been misses, and his first coaching hire was a big miss.

So, should George Paton be on the hot seat? Let us know your take, Broncos fans, by voting in the poll below!

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Greg Penner gave Sean Payton a game ball after Broncos’ first win

“Hopefully, that’s the first of many relative to where we’re going,” Broncos coach Sean Payton said after Sunday’s win in Chicago.

It wasn’t a pretty win, but it was the first victory of the Sean Payton era.

After falling behind 28-7, the Denver Broncos rallied in Week 4 to defeat the Chicago Bears 31-28 on the road, securing their first win of the 2023 season.

After the game, Broncos co-owner/CEO Greg Penner gave a game ball to Payton to celebrate his first victory on the job.

“Greg was great,” Payton said after the game. “You know, they wanted me to talk a little bit. I’ve been lucky enough the last five times I’ve been here we won. We’ve been in that locker room talking and listening to music. It’s nice when you come home and even after so many years to win here.

“But hopefully, that’s the first of many relative to where we’re going. We just have a lot of work to do still. But we can enjoy this. These guys can enjoy it. Then we get ready to go next week.”

Payton remained composed as Denver battled back to defeat the Bears in Chicago on Sunday. After the win, quarterback Russell Wilson called the coach a Hall of Famer.

“I’m also happy for Coach Payton,” Wilson said. “He’s an amazing coach, Hall of Fame coach, a guy that teaches the game at the highest level. To get his first win here was really exciting for all of us.”

The Broncos will get an opportunity for another win when they host the 1-3 New York Jets at Empower Field at Mile High in Week 5.

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Greg Penner says Sean Payton has been ‘tremendous’ for the Broncos

“He came in and right away changed the tone in the building,” Greg Penner said of Sean Payton. “He sets very high expectations.”

Denver Broncos co-owner/CEO Greg Penner spoke with media members in a pre-training camp press conference last week. During the presser, Penner was asked about new head coach Sean Payton and his time with the team so far.

“I think Sean has been tremendous,” Penner said on July 26. “He came in and right away changed the tone in the building. He sets very high expectations. Everybody knows that they are going to be held accountable.”

Payton has a track record of success in the NFL with a 152-89 record and a Super Bowl ring on his resume. Penner has the final say on team decisions, but he allows Payton to run the team his way in most aspects.

“I’m a big believer in empowering people and he’s got years of experience in this league,” Penner said. “He’s run training camps many times. For a lot of decisions, he makes the call.

“There are other things that we will talk more in depth on and that’s part of building a relationship. It’s understanding where he knows he has free rein and other points where we touch base and make a decision together.”

Payton, 59, is entering his 16th season as a head coach in the NFL.

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Broncos likely won’t be eligible for ‘Thursday Night Football’ flexing in 2023

As the schedule currently stands, the Broncos aren’t eligible to be flexed in or out of ‘Thursday Night Football’ games in 2023.

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Last week, NFL owners approved a one-year trial run for flexible scheduling for Thursday Night Football, with a few very significant restrictions.

Two of the restrictions are (1) the timeframe — only games from Weeks 13-17 are eligible to be flexed in or out of TNF — and (2) that no team will play more than one TNF game on the road (each team can play up to one at home and one away).

With those two caveats in mind, we already know that the Denver Broncos are not currently eligible for TNF flexing this season. The Broncos are scheduled to play in a road TNF game in Week 6. Later in the year, they play on the road from Weeks 13-15 and again in Week 18.

Because they will already have played on the road in Week 6, they won’t be eligible for another road TNF game. Denver’s two home games during the TNF flex window aren’t eligible, either. The first one is already scheduled to be a prime-time Christmas Eve showdown with the Patriots in Week 16.

The other game is a home Sunday afternoon showdown with the Chargers in Week 17. That game won’t be eligible for TNF, either, because Los Angeles is scheduled to play a road TNF game against the Raiders in Week 15, so the Chargers couldn’t play a second road TNF game in Denver.

Of course, if that LA-Las Vegas game is moved out of TNF, the Chargers would then be eligible to play the Broncos on TNF in a flexed game. Clear as mud, right?

As the schedule stands now, Denver is not currently eligible to have a game moved in or out of TNF lineup during the 2023 season. That could change, but it seems unlikely.

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Roger Goodell flipped Broncos’ vote on NFL rule change overnight

NFL commissioner Roger Goodell has talked Broncos ownership into flipping their vote on rule changes twice this offseason.

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At the NFL’s Spring League Meeting in Minnesota on Monday, commissioner Roger Goodell did not have the necessary 24 votes to adopt a rule change for kickoffs beginning with the 2023 season.

By Tuesday, several times flipped their vote and the rule change passed on a one-year trial period. This season, a team that fair catches a kickoff will be given the ball at their own 25-yard line instead of where the ball is caught.

To get enough support for that rule change, Goodell had to flip the votes of several team owners, including Denver Broncos co-owner/CEO Greg Penner, according to The MMQB’s Albert Breer.

This marks the second time this offseason that Penner has changed his mind on a rule change. Penner voted in favor of flexible Thursday Night Football scheduling on Monday after previously abstaining from a vote earlier this offseason.

It’s unclear how Goodell got Penner to change his votes, but one can only speculate that the Broncos owner used his leverage as bargaining power. Owners can trade votes for concessions or other areas, and perhaps — just wildly speculating — a future draft in Denver was part of the talks.

The Broncos will also want to host a future Super Bowl if they build a new super stadium in the coming years. Maybe the draft and Super Bowl had nothing to do with it, maybe it did.

We might never know how, but Goodell has gotten Denver’s ownership to flip votes twice this offseason.

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Broncos owner Greg Penner voted in favor of ‘Thursday Night Football’ flexing

With backing from Broncos owner Greg Penner, NFL games in Weeks 13-17 are now eligible to be flexed into or out of Thursday Night Football.

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The NFL will experiment with a notable schedule change this season.

NFL owners voted in favor this week of a new rule that will add Thursday Night Football games to the flexible schedule. There are several stipulations — only games in Weeks 13-17 are eligible and the league will give teams a 28-day notice before making a change to the TNF schedule.

Additionally, the league won’t flex more than two TNF games per season. Each team is only eligible to be flexed into TNF once per season and no team will play more than two TNF games per year.

The new rule will have a trial run in 2023. If it goes well, owners could vote to make it permanent in 2024. The trial rule passed 24-8 at the owners’ meetings in Minnesota on Monday — the Giants, Jets, Packers, Bears, Raiders, Lions, Bengals and Steelers voted against the change.

Broncos co-owner/CEO Greg Penner was among the 24 owners who voted in favor of flexible TNF scheduling. Penner previously abstained from voting when league owners held a vote earlier this offseason. It’s unclear what happened to turn Penner from a non-vote to a yes vote.

Thursday Night Football games are available exclusively on Amazon’s  Prime Video. Denver lost to the Colts 12-9 on TNF last season.

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Sean Payton roasts Broncos tryout QB Ben DiNucci

Sean Payton jokingly told Ben DiNucci he might be able to get a job at Walmart after the quarterback threw an interception at minicamp.

Story update: The Broncos are signing Ben DiNucci. Clearly, Sean Payton’s good-natured ribbing was all in good fun. See our original post below.

Sean Payton’s got jokes.

The Denver Broncos held a rookie minicamp practice on Saturday featuring their draft picks, undrafted free agent signings, last year’s practice squad players and more than a dozen tryout players.

One of the players that tried out over the weekend was quarterback Ben DiNucci, who spent time with the Dallas Cowboys from 2020-2022 before starring in the XFL this spring.

One of DiNucci’s passes during Saturday’s practice was intercepted by linebacker Drew Sanders, who was a third-round pick in April. After practice, Payton teased the QB publicly for the interception by retelling a comment he made to DiNucci.

“Unfortunately for Ben DiNucci, it was his first interception and there was more to that interception if you looked at it,” Payton said. “It was good play by Sanders and it was right in front of Greg Penner. I was telling Greg before practice how this Ben DiNucci was doing well.

“I told Ben — I said, ‘You know, he owns Walmart. If it doesn’t work out here, I’m sure there’s a greeting opportunity somewhere at one of his local stores.’ It was good play by Drew.”

Boom, roasted.

Penner, of course, is the son-in-law of Broncos majority owner Rob Walton, the billionaire heir of Walton. Penner is now a co-owner of the club and he acts as the day-to-day owner as chief executive officer.

The fact that Payton would make such a comment about DiNucci in a playful manner might actually be a good sign for the QB’s chances of getting an invite to training camp. It seems like the kind of joking comment Payton would make to a player he likes rather than a cutting criticism of a camp arm.

If Denver does plan to sign DiNucci, the team will have to wait until Monday — that’s when XFL players become eligible to sign with NFL teams for 2023.

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