This is the week that Broncos fans have been waiting for since the last second defeat of the season to the Raiders in early January.
It seems like an eternity ago. Partly because we are still in this pandemic, and partly because so much has happened to the Broncos already in this off-season.
John Elway moved away from personnel decisions and George Paton was hired to take his place. Paton changes everything to Denver because after a decade with Elway in charge, we basically knew what to expect. Elway probably would have already made a new restructured deal with Von Miller because the Duke of Denver was fiercely loyal to his choices in the draft and Miller was the first player selected by Elway in 2011.
Now, we have reached the limit for Miller and Kareem Jackson, both with team options and each of them can be excused if their option is not chosen by Tuesday.
Miller is set to have a $ 22.3 million cap this year, but coming from a season ended by injury and at the age of 32, it’s hard to argue that he is worth that much. Even though he’s probably the greatest defender in Denver’s history.
On Tuesday, $ 7 million of that amount guarantees, which means the Broncos would have to take the option and pay him the full amount. It looks like they are working with him on a restructuring, but if they fail to do one, the Broncos will have a $ 4.2 million dead money limit. Still, cutting ties with Miller would save $ 17.5 million for the limit this year, which is about half of what they already have ($ 32.6 million).
Spotrac estimates Miller’s “market value” at $ 10.3 million a year, which seems much more reasonable. But, time is running out to reach a new deal.
The same is true of Jackson, another veteran who has been valuable to Denver’s defense for the past two years. Together, he and Justin Simmons formed the NFL’s best safety duo, but the 34-year-old will win $ 12.8 million, with $ 1.5 million guaranteed on Tuesday.
Ideally, Denver can restructure Jackson, but Paton may want to get out of it and play, say, Will Parks. If they let Jackson go, it would save $ 10 million up to the limit and then Paton could take that money and pay Parks about $ 1.5 million.
And the Broncos are mostly expected to do that, to pay their own free agents. Miller seems prone to restructuring – although waiting so long is somewhat inaccurate – and Parks could be maintained for a relatively low cost.
Others likely to be retained include Shelby Harris and, hopefully, Jeremiah Attaochu. Harris is one of the most dominant defenders when it comes to hitting balls at the scrimmage line, and he also knows how to get pressure. Attaochu has been a great reserve defender, accumulating 8.5 combined bags in the past two years, and four of them have come in the last five games with Denver last year.
Harris has been a steal in his three years with the Broncos, earning a mere $ 600k and $ 715k in his first two years, and then just over $ 3 million a year for the past two seasons. If they can hire you again for $ 3-4 million, Denver absolutely should. In addition to being an important internal defender, the Broncos also attacked Jurrell Casey this season.
As for Attaochu, if the Broncos can hire him for about $ 1.5 million, so should they. He is a solid backup edge broker and could be called upon to contribute more if Miller were dismissed.
Other important free agents on the team Phillip Lindsay, Alexander Johnson and Tim Patrick have already been hired, so if another team wants to hire them, Denver can match or be compensated with a draft choice.
As for other free agents out there, where could Denver look to increase its list?
Probably in the cornerback, after severing ties with AJ Bouye.
There are also a ton of solid curves on the market. Patrick Peterson is older, at 31, and was eliminated in the same first round for Miller in 2011. But Peterson can still play and has experience to lead young Michael Ojemudia. Even in his bad years in the past two seasons, Peterson has accumulated five interceptions with 15 defending passes and a fumble and a sack.
Spotrac says he will likely earn $ 10.4 million this year, but that seems to be worth it for a top talent, albeit an older one.
Another option is Malcolm Butler, former Tennessee Titans. In fact, he tied the high point of his career with four interceptions last year and scored a 74.5 on Pro Football Focus, the 15th best CB.
Another tempting possibility is Xavier Rhodes, formerly of Indianapolis Colts. Rhodes was the ninth best cornerback last year by PFF (note 77.3) and he had two choices and 12 passes saved in 2020. It seems unlikely that the Colts will let him go, but Spotrac estimates his market value at $ 7.3 million a year, which Denver should skip if true.
With the “legal adulteration” period starting on Monday, teams can start negotiating with free agents and deals usually leak, although they cannot be finalized until Wednesday.
Expect the Broncos to make a lot of moves from Monday; in the cornerback, likely competition in the quarterback and also in hiring many of your own free agents.