Assuming Ryan Clady accounts for roughly half of that money, Denver still has the room to attract some talented free agents in 2013.
After a successful 2012 season with a very talented team, the Broncos are only a few tweaks away from another potential run deep into the playoffs.
Here's a look at seven guys who will most likely be on the market in March that could be a great fit for the Broncos and their odds of actually coming to the Mile High City.
He rushed for over 1,000 yards in 2011 and finished with 986 at the end of the 2012 season. At age 27, Bush has matured into a dependable back who would fit well into Peyton Manning's offensive scheme.
He could be utilized as a returner and could also play a Darren Sproles-type role in the Broncos offense. Denver's current offensive line is arguably the best unit Bush could play behind in his entire career, allowing his skill set to shine within the offense.
While other free agents like Stephen Jackson are available and intriguing, it would not make the most sense for Denver to budget for a No. 1 back in the type of offense run by Manning.
Signing Reggie Bush to replace Willis McGahee, who turns 32 years old a month into the 2013 season and is recovering from a knee injury, is a solid move for the franchise and could pay off handsomely for Denver this upcoming season.
Odds: 60 percent
Ellerbe was a dynamic pass blitzer and solid rush defender this season, contributing to 92 tackles with 4.5 sacks and two forced fumbles.
The Broncos need this kind of production in the middle, and Joe Mays and Keith Brooking just don't measure up. Denver needs a guy in that role that can be a three-down player. When going up against the weaker AFC West division teams, they have been serviceable; however, when facing no-huddle teams like the New England Patriots and Ravens, it's like playing with a man down.
Baltimore is facing a tough salary-cap situation and may have to let Ellerbe pursue other opportunities in the league for 2013 and beyond.
Signing Ellerbe would gain 10 years of youth at the "Mike" and solidify an already-phenomenal linebacker corps flanked by Von Miller and Wesley Woodyard.
Odds: 50 percent
With both Chris Kuper and J.D. Walton coming off ankle injuries, the Broncos may decide to move Orlando Franklin inside to guard. He took some snaps there last offseason and seemed to be a natural fit in that role.
Since drafted by the Minnesota Vikings in the second round of 2009, Phil Loadholt has missed just one NFL start. At 6'8" and 343 pounds, he has been a beast for league MVP Adrian Peterson's run game at right tackle.
The Broncos could certainly use the young, athletic big man on their offensive line, but it is still unclear if he will actually hit the free-agent market in March. The Vikings have made keeping Loadholt in Minnesota a priority, yet nothing has materialized to this point.
Odds: 30 percent
Some people consider Glenn Dorsey, the Kansas City Chiefs' fifth overall draft pick in 2008, to be a bust.
However, it is a possibility that he is just a product of being in the wrong system. His lack of production with the Chiefs could be attributed to being misplaced in a 3-4 defense and a lack of motivation on a mediocre team.
Joining the Broncos to replace free agents Justin Bannan and/or Kevin Vickerson at defensive tackle could be a great move for Denver's defense. Dorsey knows the Broncos, and the Broncos know him.
Dorsey could be a bit pricey but could be worth the money if he can clog up the gap and take the Denver defense to the next level.
Odds: 60 percent
Denver needs to add some depth and talent to the safety position for the 2013 season.
Veteran Jim Leonard is a free agent, and the Broncos could choose to let him go in favor of a younger guy for the same price. Bringing in some fresh talent to compete with Rahim Moore may also light a fire under him to prove his worth in training camp.
Detroit's Louis Delmas could be a nice fit for this Denver secondary. He was sidelined for eight games last season but if fully recovered could certainly enhance the defense.
Delmas is a safety with solid instincts and a great deal of toughness. He could come with a decent price tag, as he was injured for most of last season on a team with an underwhelming secondary.
Odds: 45 percent
Bringing in a veteran like Ed Reed would be a great move for the Broncos, if they can pry him away from the Super Bowl champion Ravens.
If for some reason Reed and the Ravens can't come to terms this offseason, signing with a contender like Denver could be right up his alley. Reed could follow in the footsteps of other longtime safeties John Lynch and Brian Dawkins, who both finished their careers in the Mile High City.
There is no doubt the talent that Reed would add to the Broncos secondary. This nine-time Pro Bowler would not only add leadership and experience but help propel Denver's secondary where it needs to be for a serious chance at a Super Bowl appearance.
Unfortunately for Bronco fans, the chances of him not re-signing with the Ravens are a bit slim.
Odds: 20 percent
Even though Brandon Moore will be 33 at the start of the 2013 season, he was one of the few bright spots on the New York Jets' roster in 2012. He has been a standout guard for New York with 10 seasons in the NFL.
In Moore, Denver would gain a veteran leader who is hungry for a Super Bowl. He is a solid run-blocker and would be an asset to the Broncos offensive line; protecting their very important signal-caller, Peyton Manning.
With question marks about Chris Kuper's health, it would certainly help to bring in some depth at the guard position.
Considering the current state of the Jets organization, it should be easy to entice Moore to finish out his career in Denver with a decent price tag.
Odds: 55 percent