According to Spotrac.com, the Broncos have $10,979,434 remaining in salary cap room. Clady's five-year deal, which was originally reported by multiple outlets as including $33 million in guarantees, actually only includes $15 million in guarantees and a $3 million signing bonus, per Spotrac.
With a base salary of $1.5 million, a $600,000 signing bonus allotment and a $10.5 million roster bonus, Clady will be a $12.6 million hit against the Broncos' 2013 cap, which originally stood at $123 million. Now, with more than $10 million remaining, the team can move on to signing rookie defensive tackle Sylvester Williams.
A North Carolina Tar Heels product, Williams was selected by the Broncos in the first round (28th overall) in April. Per CBA rules and based off the deals that Nick Perry and Mark Ingram signed with their respective teams in 2012 and 2011, we can deduce that Williams's looming four-year deal will include a signing bonus around or just below $4 million.
Furthermore, Ingram's contract was worth a total of $7,416,750 in 2011, and Perry's was worth a total of $7,499,250 in 2012. If he sees a similar total value increase, Williams' deal will likely be worth approximately $7,581,750.
With a projected 2013 base salary of $400,000 and an allotted $973,500 signing bonus, Williams will likely cost approximately $1,373,500 against the team's cap this fall. That would leave the team with $9,605,934 in cap room after locking up the rookie defensive tackle.
With that remaining $9.6 million, the team can focus on re-upping contracts with players including punter Britton Colquitt, wide receivers Eric Decker and Demaryius Thomas and outside linebacker Von Miller. Not all of those players will be re-signed before next offseason (one of either Thomas or Decker may not even be re-signed), but the team has enough room to at least start negotiating with a few of them.
More cap room will be created after several expected veteran cuts take place later this summer, and the team will want to have a decent amount of cap in its back pocket during the season to use on waiver claims—see: Koppen, Dan from last season.
Watch for the Broncos to start negotiating with Williams soon. Training camp starts on Thursday, July 25.