Story update: The below figures were calculated before the Broncos agreed to terms on a one-year deal with running back Melvin Gordon. See our original post below.
The Denver Broncos are set to make nine selections in the NFL draft this weekend, adding more talent to an already-impressive roster.
Going into the draft, the Broncos have $13,394,581 in remaining salary cap space, according to record from the NFL Players Association. That number will decrease after Denver signs its draft picks, but it won’t drop as significantly as fans might think.
During the offseason, NFL teams can carry 90 players on their rosters, but only the players with 51 most expensive contracts count against the team’s cap. So when the Broncos sign a rookie, that rookie will bump an existing top-51 player off the team’s cap charge.
For example, Denver’s second-round draft pick will have a cap hit of $1,097,642 this season, but after bumping safety J.R. Reed’s $895,000 cap hit out of the top 51, the Broncos will only have a net cap loss of $202,642, not the full $1 million-plus of the new rookie.
So even after signing their draft class, Denver could have around $10 million in remaining cap space, which is a healthy number to have available for bargain free agent signings and injury replacements late in the summer.
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