Mays was due a 2013 salary of $4,166,666 making him the sixth highest paid player on the team. Though the Broncos will absorb $833,334 in dead money, the move frees up $3,333,332.
That is a decent amount of money for a team that may or may not need a starting strong side linebacker in the upcoming weeks.
Mays was demoted during the season in 2012 after reportedly consistently misrelaying the defensive calls from the sideline to the huddle. He was replaced in 2012 by Keith Brooking, who has since not been re-signed by Denver and remains a free agent.
The starting middle linebacker position seems to be Nate Irving's for the taking, with a challenge from second year linebacker Steven Johnson in training camp. Most recently it was reported that the Broncos were interested in signing veteran Will Witherspoon.