The Broncos needed a little bit of breathing room on their salary cap. The restructured Tim Patrick’s contract to create $3 million in space.
The Broncos needed a little bit of breathing room on their salary cap.Denver converted $6 million of wide receiver Tim Patrick’s $8 million in base salary into bonus money, a source confirmed to The Post, allowing them to prorate the $6 million out over Patrick’s two remaining contract years and creating $3 million in cap room for 2023.
Because bonus money is prorated over the life of a contract , taking money Patrick already would have made and paying it as bonus allowed for the Broncos to save cap space this year., Patrick’s base salary was $8 million and the conversion brought it down to $2 million.
Patrick’s cap hit jumps to $16.072 million in 2024 — up $3 million with the proration — but consider that if the Broncos end up rolling over the money they cleared this year, it essentially just covers Patrick’s increased number next year.
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