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John Elway is on the move. The Denver Broncos converted the lion’s share of Von Miller’s 2018 base salary into a signing bonus: $16 million out of a total $18.5 million. That decision frees up $12.375 million of the 2018 salary cap.
Eagles created $5.407M in cap space in 2018 by converting $7.21M of TE Zach Ertz's $8M base salary into a fully guaranteed roster bonus, per @FieldYates.
— Adam Schefter (@AdamSchefter) March 15, 2018
Broncos created $12.375M in 2018 cap space by converting $16M of LB Von Miller’s $18.5M base salary into a signing bonus.
Von Miller will now have the final years of his original deal structured differently. With jut a $10.4 million cap hit in 2018, and larger cap hits of $25.125 million, $25.625 million, and $22.125 million from 2019-2021.
Elway has clearly chosen to pursue a major free agent, but who?
Possibilities might include defensive tackle Ndamukong Suh, defensive tackle Sheldon Richardson, and defensive back Tyrann Mathieu.
Updates to come as more details emerge.