Broncos lose $4.5 million in 2017 salary cap after repayment
The Broncos don’t have quite as much salary cap space as was thought.
The NFLPA updated its salary cap report and it shows the Broncos have $16.148 million left in cap space, a $4.5 million drop from the $20.6 million that was listed after Denver’s most recent free agent signings.
Denver’s loss in salary cap space is due to a repayment of an NFL loan that teams were allowed to take in 2011 and 2012. The Broncos took the maximum loan, $3 million in 2011 and $1.5 million in 2012. It’s now time for that loan to be repaid in regards to the salary cap. Those loans came during the uncapped year following the 2011 NFL lockout and the adjustment to the new collective bargaining agreement in the year that followed.
Read full story at The Denver Post.
Denver Broncos general manager John Elway enters a news conference at which Gary Kubiak stepped down as head coach of the Denver Broncos because of health concerns Monday, Jan. 2, 2017, at team headquarters in Englewood, Colo. (AP Photo/David Zalubowski)
Denver Broncos general manager John Elway enters a news conference at which Gary Kubiak stepped down as head coach of the Denver Broncos because of health concerns Monday, Jan. 2, 2017, at team headquarters in Englewood, Colo. (AP Photo/David Zalubowski)
