In two items that are not unrelated, the Denver Broncos have heard back from the agent of defensive end Elvis Dumervil, and Dumervil has decided, after some meditation on the subject, that he would indeed take a pay cut from the salary and bonuses that would have made him a $13.6 million cap casualty in the 2013 season.
The Broncos had said that if Dumervil didn't agree to restructure, they would consider releasing the six-year veteran, selected in the fourth round of the 2006 NFL draft.
Now, according to Ian Rapoport of the NFL Network, Dumervil has changed his mind.
Source: Elvis Dumervil is now willing to take a pay cut. His side has exchanged a proposal with the Broncos, hasn't heard back since 4
— Ian Rapoport (@RapSheet) March 12, 2013
The Broncos went into the 2013 league year with almost $15 million in cap space, but they'll be on the hook for a LOT of money for their starting quarterback over the next two seasons. When Peyton Manning agreed to terms on a five-year, $96 million contract in March of 2012, there were major financial detonations if Manning passed his physical before the new league year in 2013.
According to Mike Klis of the Denver Post, Manning has done so, and that bit of good news gives Manning another $40 million in bonuses in the next two seasons. Manning was guaranteed $18 million in his first Denver season, and he earned every bit of it with one of his best seasons.
Reports indicated that if Dumervil refused the pay cut and the Broncos decided to cut him loose, Manning would immediately recruit his olf buddy, defensive end Dwight Freeney, from the Indianapolis Colts. Manning and Freeney played together from 2002 through 2011.