Pre-Free Agency Salary-Cap Update for Denver Broncos

With the beginning of the NFL free-agent signing period just days away, the Denver Broncos are positioning themselves to be able to make some moves.

As shown on Over the Cap, the Broncos currently have about $19.5 million available in salary-cap space. With that said, you can probably rule out the team going on a spending spree as they have the last two offseasons.

The team simply doesn't have enough money to do that.

However, the Broncos should be able to re-sign some of their own free agents. The hard part will be deciding which players to bring back.

Denver Broncos' Salary-Cap Situation at a Glance

Category	Actual	Current League Avg.	NFL Rank
Salary Cap Space	$19,527,342	$24,063,264	18
Team Salary Cap	$149,504,424	$148,839,454	9
Dead Money	$938,522	$5,890,016	4

First and foremost, general manager John Elway and his staff need to decide which players to keep around. The Broncos have more key players set to become unrestricted free agents than perhaps any team in the league.

Who Should the Broncos Bring Back?

Ezra Shaw/Getty Images

Of all the players who will be unrestricted free agents for Denver, two of them are players whom the Broncos absolutely must retain.

Terrance Knighton and Virgil Green.

Both players are integral to the future of the team. Knighton was absolutely crucial against the run last season, and even with the team shifting to a 3-4 scheme on defense, he should still be able to be a strong force in the middle.

Green is a blocking machine, and his skills as a receiver are highly underrated.

If the right deal can be reached, it would be nice to hang on to Nate Irving, but he can be replaced. These are the only three players Elway should try very hard to keep.

That means Julius Thomas, Orlando Franklin and Rahim Moore can go elsewhere. All three of them will get plenty of attention on the open market, and with that will come offers that Denver can't match.

"

#Broncos S Rahim Moore should also have a solid market.

— Adam Caplan (@caplannfl) March 2, 2015"

Under this plan, the Broncos would be able to keep players who will be productive next season while still keeping their options open for other players on the market.

Can the Team Trim the Roster to Create More Space?

Jack Dempsey/Associated Press

The simple answer is yes. There are three veteran players who stand out on the roster as prime candidates to be cut in order to free up more money.

Releasing Andre Caldwell, Manny Ramirez and Britton Colquitt could bring another $6.85 million back. In addition, it would be tough to argue that the Broncos truly need any of those three players.

Ramirez has been a decent offensive lineman over the past two seasons, but he simply isn't worth $3 million. The Broncos can definitely find a more cost-friendly option.

In three seasons with Denver, Caldwell has caught only 22 passes. He didn't do himself any favors as a kick returner last season either.

Colquitt is still an effective punter, but he is due $3.75 million next season. Only nine players on the entire team are scheduled to earn more. That's just too much for a punter.

"

Will Denver Broncos keep (over)paying their punter? Unlikely. http://t.co/RJcnmCsZL3

— MileHighReport (@MileHighReport) February 25, 2015"

The Broncos could find someone else to come kick in the thin air of Denver for a much lower rate.

Where Does the Team Have Money Tied Up?

Bill Kostroun/Associated Press

After taking a beating in Super Bowl XLVIII, the Broncos were determined to address the defense as soon as possible. They did that by signing T.J. Ward, DeMarcus Ware and Aqib Talib last year.

But it came at a price, as those three players will cost the team roughly $23.384 million this coming season. In other words, they better produce.

Those contracts will limit what the team can do in free agency this year, so any expectations of the team making a splash by going after big names should be tempered.

Also, any idea that Sylvester Williams will be cut can be forgotten. He would cost the team over $3 million in dead money if that move were made, leaving the team no choice but to give him another year.

Williams has been a big disappointment during his two years with the team, and this will certainly be a make-or-break season for him.

Players From Around the League to Target

Charles Rex Arbogast/Associated Press

As stated before, the Broncos should use their money to bring back as many of their own players as possible. That will likely lead to a free-agent signing period that isn't quite as exciting as the whirlwind of the past two years.

Still, there are a couple of players you can expect the Broncos to pursue.

First, tight end Owen Daniels could be brought in at a reasonable rate, and though his signing wouldn't immediately soften the blow of Julius Thomas leaving, his play once the season started would.

Daniels is extremely familiar with the offense that Gary Kubiak likes to run, and he has been very productive in the system during his career.

Expect the Broncos to make at least one move to bolster their offensive line as well. It would be nice to see the team have enough money to go after right tackle Bryan Bulaga, but players like Clint Boling and Stefen Wisniewski make a lot of sense.

"

#Raiders C Stefen Wisniewski one to keep an eye on....RT @Jeff_Legwold: #Broncos also expected to look at Cs early in free agency

— Adam Caplan (@caplannfl) February 23, 2015"

The Broncos will likely choose to bring in offensive linemen through the NFL draft, possibly very early, but adding experienced players such as those mentioned at a reasonable cost is something the team must strongly consider.

The Broncos won't have enough money available to be as aggressive as they'd like, but the $4 million they got back in renegotiating Peyton Manning's contract provides a little more breathing room.

Elway has his work cut out for him, but the team can still have a very successful beginning to the new league year.

All salary cap information taken from Over the Cap.