Broncos spend $30 million in free agency, $10 million left

The Denver Broncos have made significant moves during the first week of free agency, signing nine players, including four new free agents. This effort has reduced their offseason to-do list and positioned them among the top teams in free agency spending. They currently have around $41 million in salary cap space but have used more than $30 million recently. Despite these additions, the Broncos still need a running back and a punter. Further roster changes are expected in the coming weeks. Head coach Sean Payton and general manager George Paton will also focus on the upcoming draft and contract extensions for existing players. After signing safety Talanoa Hufanga to a three-year deal, Denver's cap space is estimated to be between $8 million to $10 million. They have structured several contracts, keeping future cap hits low. For instance, tight end Evan Engram has a $7.26 million cap number. Denver still has some free agents to address, including fullback Mike Burton and wide receiver Lil’Jordan Humphrey. They will also need around $3.2 million in cap space for their 2025 draft class. The Broncos can create additional cap space, notably because they have not restructured any contracts. This conservative approach allows them to maintain financial flexibility for the future. Extensions for key players, like defensive tackle Zach Allen and wide receiver Courtland Sutton, could also reduce their current cap numbers. If they continue on their current path, the Broncos aim to balance immediate spending while protecting their financial options and taking advantage of a rookie quarterback contract with Bo Nix.