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Report: Broncos save cap space by reducing punter Britton Colquitt's 2015 salary

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A smart move for both team and player.

(Jon Heath-Mile High Report)

Congratulations, Britton Colquitt, you essentially just solidified your starting job.

The punter has accepted a contract restructure that bumps his $3 million base salary down to to $1.6 million for the 2015 season, according to ESPN's Field Yates. It saves the team $1.4 million in cap space.

The last year of Colquitt's deal has not been adjusted — yet.

The Broncos brought in rookie punter Karl Schmitz this offseason to push Colquitt for the punting job. Colquitt's high salary was arguably the biggest knock against him going into training camp.

Schmitz would have to have a phenomenal preseason to have a shot.

Schmitz is 28. Colquitt is 30.

Now with a more reasonable salary, Colquitt's essentially locked him.

He's been a more consistent punter than Schmitz throughout camp and has five years of experience under his belt. He averaged 44.2 yards per punt last season (37.6 net).

The Broncos on Monday also signed receiver Corbin Louks. He will wear jersey No. 6.