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Broncos convert $16M of Von Miller’s base salary into signing bonus freeing up $12.375M in cap space

Denver frees up over $12 million in cap space.

NFL: Pro Bowl-NFC vs AFC Kirby Lee-USA TODAY Sports

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.

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.