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After signing drafted rookies, Broncos expected to have around $4.4 million in salary cap space

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Denver's cap situation and more in today's Horse Tracks.

Ron Chenoy-USA TODAY Sports

After signing all nine of their drafted rookies, the Broncos are expected to have $4,413,151 remaining in salary cap space, according to a projection from Spotrac.com.

Only Denver's top selection — edge rusher Shane Ray — and tight end Jeff Heuerman — who is expected to land on injured reserve — have not yet officially signed.

The team's second round selection, guard Ty Sambrailo, received a $1.057 million signing bonus, according to KUSA-TV's Mike Klis. Ray's bonus is expected to be worth $4.9 million.

Meanwhile, Demaryius Thomas' franchise tag, worth $12.823 million, will lock in on July 15 if Denver does not reach a long-term deal with him before then. John Elway, Denver's G.M., remains hopeful that a long-term deal will get done, but told ESPN's Jeff Legwold last week that he had no update on the situation.

In October, Spotrac.com projected a five-year, $73,484,671 contract for Thomas, an average of $14,696,934 per season. Thomas made $14,105,500 total during his first five seasons with Denver, per Spotrac.

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