Broncos Eye Bright Future After Navigating $32M Dead Cap Hit
The Denver Broncos just wrapped up a season that, on paper, looked like it should’ve been a rebuilding year. Instead, they punched their ticket to the AFC Championship game-while carrying a $32 million dead cap hit from the release of former quarterback Russell Wilson. That’s not just surviving financial adversity; that’s thriving in spite of it.
Owner and CEO Greg Penner didn’t mince words when reflecting on how the team handled the challenge. “You prefer not to have that kind of dead money on your books because it can be a limiter,” Penner admitted. “But I love the approach we took, which was none of us were ever going to make any excuses for that.”
And that approach? It was all about scrappiness.
The Broncos leaned into the constraints, got creative with the roster, and found a way to stay competitive in one of the NFL’s toughest conferences. “We just looked at it as, ‘We’re going to have some constraints.
We’re going to have to be scrappy, and we’re going to figure it out and put a great product on the field.’ I think that we’ve done that,” Penner said.
Now, with the dead cap hit in the rearview mirror, Denver enters the offseason with something they haven’t had in a while: financial flexibility and a strong draft hand. “We’re in a good position now in terms of cap space, as well as our draft picks,” Penner added. “That’s exciting as we go into this offseason.”
So what’s next? According to Penner, the Broncos plan to be active in both free agency and the draft-but with a measured approach. “I always look at it as… I get a little worried about just the pure phrase of ‘aggressive,’ because you can be aggressive, but you want to do it in a smart way,” he said.
Translation: They’re not just throwing money around. Denver is looking for the right pieces-players who not only bring talent but fit the culture that’s been cultivated in the locker room.
“We’ll be willing to spend if we see a player that we think is going to add a lot of value here,” Penner explained. “We’ll definitely take an aggressive approach, but we’re also not just going to bring in somebody that’s not right for this locker room.
There’ll be a lot of factors that we consider. I’d say we’ll be opportunistically aggressive.”
That’s the kind of mindset that turns a good team into a sustainable contender.
On the coaching side, defensive coordinator Vance Joseph is expected to remain with the team after not landing a head coaching job this cycle. That continuity on defense could be key, especially as the Broncos look to build on a unit that’s shown serious flashes of dominance.
Bottom line: Denver weathered the storm of a massive financial hit and came out the other side with momentum, cap space, and a clear vision. The Broncos aren’t just back-they’re building something. And with a front office that’s showing discipline and direction, this offseason could be the next big step forward.