Denver

Broncos

The move reportedly frees up $9.5 million in cap space. Per OverTheCap, Sutton is scheduled to hit free agency after the 2025 NFL season and agreed to a revised two-year deal in July that included $1.5 million in incentives. The most recent restructure gives the front office much-needed breathing room after running the cap into the red by more than $2.7 million.

The deal includes $77.5 million in guaranteed money for Surtain, a 2021 first round pick who has seven interceptions over his first three NFL seasons. Pro Football Focus graded Surtain as 2023’s 68th best cover corner, and 47th overall. The Broncos in 2023 allowed the league’s 11th highest drop back success rate. Surtain will anchor the Denver secondary for years to come.

Jacobs says he declined to sign with the Chiefs, along with the Broncos, Bears, Cardinals, Dolphins, Giants and Texans. Jacobs’ statement perhaps most profoundly applies to the Chiefs’ starter Isiah Pacheco. The Chiefs’ front office allowed Jerick McKinnon to walk this offseason, publicly praising Pacheco’s three-down and scoring-position potential while adding only UDFA Carson Steele to the mix through the preseason’s conclusion. The Chiefs then signed pass-catching specialist Samaje Perine on Wednesday, in what was thought to be a likely depth-related move. The Chiefs’ prior pursuit of Jacobs, a capable three-down player, casts a slightly different light on Perine’s signing though; the front office may be less comfortable with increasing Pacheco’s receiving usage than it appeared for much of the summer. While Pacheco should still be viewed as a locked-in fantasy football RB1, his range of outcomes is now slightly wider than it was a week ago.

Russini reports that, had the Broncos accepted, the Niners would have then shipped Aiyuk to the Steelers. All this is kind of pointless counterfactual, but it underscores the fact that Aiyuk’s return is strictly a business decision for both sides. Aiyuk was willing to play hardball and the 49ers were unwilling to harm their 2024 championship odds. It’s also a clear indication the Niners aren’t counting on instant contributions from 2024 first-rounder Ricky Pearsall.

Parham Jr was cut by the Chargers on Tuesday after four years with the club. The 6-foot-8, 237-pound tight end was able to snag 11 touchdowns in that time while catching 67 passes for 764 yards. It wouldn’t be an upset if he saw time with Denver during the 2024 campaign.

Patrick, who has not appeared in a regular season game since 2021, was released by the Broncos on Tuesday. The Lions certainly make sense from a need perspective. Now 30, it is admittedly uncertain if Patrick is still capable of working his way onto a 53-man roster. If and when Patrick earns a promotion from the taxi squad, it is difficult to believe he will manage to become fantasy relevant.

It’s a mild, mild surprise the Broncos couldn’t find a trade partner, as Perine figures to quickly find a new home as a pass-catching specialist on the open market. Also waived/released by the Broncos on Tuesday were P Trenton Gill, WR Michael Bandy, WR Brandon Johnson, WR Jalen Virgil, RB Tyler Badie, TE Hunter Kampmoyer, TE Thomas Yassmin, OG Nick Gargiulo, OG Will Sherman, OT Demontrey Jacobs, DE Elijah Garcia, DE Matt Henningsen, DT Jordan Miller, EDGE Thomas Incoom, EDGE Dondrea Tillman, CB Quinton Newsome, CB Reese Taylor, S Tanner McCalister, EDGE Durell Nchami, WR Lil’Jordan Humphrey, WR David Sills, FB Michael Burton, C Sam Mustipher, OG Calvin Throckmorton and LB Jonas Griffith.

Patrick is an established name, but it’s not exactly surprising no one was willing to surrender compensation for a 30-year-old who hasn’t played in three years. Patrick will now try to re-establish some value on the workout circuit, though he could also end up back on the Broncos’ practice squad.

Johnson had 25 receptions over two seasons with Denver. Last season, Johnson had 11 catches — including a touchdown — over the season’s final three games as a Broncos starter. The team parting ways with Johnson and Tim Patrick likely mean Marvin Mims will be used as a full-time player in 2024.

Perine appears to be the odd man out in a Broncos backfield that has been infused with young running backs in recent years. Jaleel McLaughlin emerged to make the team as a rookie UDFA last season and then added Notre Dame’s Audric Estime in the fifth round of this year’s draft. Perine totaled 53 carries for 238 yards and one touchdown last season while adding 50 receptions for 450 scoreless yards. The soon-to-be 29-year-old back averaged a career-high 6.7 yards per touch and should still have plenty to offer as a third-down back on a team in need of help. Whether it’s by trade or free agency, Perine will almost certainly have a spot on a 53-man roster ahead of Week 1.