Salary cap implications of Broncos parting with OLB Randy Gregory
Story update: Before the release became official, the Broncos agreed to trade Randy Gregory to the 49ers in exchange for a late-round draft pick. See our original post below.
Randy Gregory was a bust free agent signing in 2022, and the team will pay for it in 2023 and 2024.
The Denver Broncos gave Gregory a five-year, $70 million contract last year, but he failed to live up to it. With injuries playing a factor, Gregory was only available for 10 of the team’s 21 games over the last two years, and he only totaled three sacks in those contests.
After being benched on Sunday, Gregory was released on Wednesday. It seems to be a statement move from head coach Sean Payton, who is holding players accountable for poor defensive performances this year.
The move will leave the team with $16.1 million in dead money this season and $6.3 million in dead money in 2024, according to Spotrac.com. The total hit of $22.4 million is the largest dead money cap hit for a defensive player in NFL history, according to Zach Segars of Let’s Talk Broncos.
Denver will have a net savings of $9.8 million worth of cap space in 2024, and Gregory won’t be owed anything from the team in 2025.
The Gregory release reflects poorly on general manager George Paton, who gave Gregory the massive contract just last year. While players are held accountable for on-field performance, fans have to wonder if Paton might be on the hot seat for building this struggling roster.
