That extravagant dead-cap hit from Russell Wilson has the Broncos purging their roster.
Denver announced Thursday it released second team All-Pro safety Justin Simmons in a move that saves the team $14.5 million in cap space, according to NFL.com.
Simmons is now one of the top free-agent safeties, alongside the Giants’ Xavier McKinney.
“Justin Simmons’ impact as a Denver Bronco extends far beyond his exceptional play during eight seasons with our organization,” the Broncos said in a statement on their website. “In addition to growing into an All-Pro and team captain, Justin became our perennial Walter Payton NFL Man of the Year devoted to uplifting others and using his influence for positive change.”
The Broncos are in the tough spot of trying to navigate the historic $85 million in dead money from when they eventually release Wilson later this month, including $35.4 million this year, per Spotrac.com.
Spotrac has Denver over the cap even after releasing Simmons, who costs $3.75 million in dead money.
While Simmons, 30, is still a good player, having earned three straight second team All-Pro honors, the Broncos felt paying an aging safety premium dollars is not a wise move for them in their rebuild.
Simmons should be an attractive piece for contenders who need help in the secondary, including the Lions, Packers and Eagles — and perhaps even the Giants.
He led the NFL in interceptions in 2022 and has made two Pro Bowls.
The Broncos thanked him in their statement for all his work in the community during his eight years with the team after being selected in the third round of the 2016 NFL Draft from Boston College.
Simmons had been the team’s longest-tenured player.
“Justin will always be a Bronco, and we thank him for the outstanding manner in which he represented our organization on and off the field,” the Broncos said in their statement. “We wish Justin, his wife Taryn, and their children Laney, Shae and Kyler the very best in the future.”