AFC West 2024 Offseason Financials

Michael Ginnitti
Michael Ginnitti, Managing Editor & NFL/MLB ExpertJanuary 10, 2024
© USA TODAY Sports

Spotrac’s 2024 NFL Offseason Series continues with a look at each of the four AFC West teams, breaking down their estimated Top 51 cap space, pending unrestricted free agents, a few notable bubble players, and potential ways to free up more cap space this winter. 

AFC: NORTH | EAST | SOUTH | WEST
NFC: NORTH | EAST | SOUTH | WEST

Denver Broncos

An up & down 2023 is about to lead to a wild (early) 2024, with a financially painful change at the QB position looming. Denver rides into the offseason around $19M in the red in terms of Top 51 cap space, a few notable offensive line free agents, & the #12 overall draft pick this April.

NOTABLE PENDING UFAS

QUARTERBACK
Bubble: Russell Wilson

RUNNING BACK
None.

WIDE RECEIVERS
Bubble: Tim Patrick, Jerry Jeudy (trade)

TIGHT ENDS
Adam Trautman
Bubble: Chris Manhertz

OFFENSIVE LINE
Graham Glasgow, Cameron Fleming, Lloyd Cushenberry

DEFENSIVE LINE
Mike Purcell, Jonathan Harris
Bubble: D.J. Jones

EDGE DEFENDERS
None.

LINEBACKERS
Josey Jewell

SECONDARY
K'Waun Williams (CB), P.J. Locke (S), Fabian Moreau (CB)
Bubble: Damarri Mathis

SPECIAL TEAMS
Wil Lutz (K)

CAP CLEARING POSSIBILITIES

  • Process a full base salary conversion for WR Courtland Sutton, freeing up $9.5M of cap when factoring in 3 void years
  • Release WR Tim Patrick, freeing up $9.5M of cap
  • Trade WR Jerry Jeudy, freeing up $12.9M of cap (unless some of that salary is retained to facilitate a better trade return)
  • Release TE Chris Manhertz, freeing up $2.1M of cap
  • Extend OT Garett Bolles, lowering his current $20M cap hit for 2024. Bolles projected toward a 3 year, $48M contract in our system.
  • Process a full base salary conversion for OT Mike McGlinchey, freeing up $11.1M of cap when factoring in 1 void year.
  • Process a full base salary conversion for G Ben Powers, freeing up $8.7M of cap when factoring in 2 void years.
  • Process a full base salary conversion for DE Zach Allen, freeing up $11.3M of cap when factoring in 3 void years.
  • Release DT D.J. Jones, freeing up $10M of cap
  • Extend S Justin Simmons, lowering his current $18.25M cap hit. Simmons projects toward a 2 year, $22M extension in our system.
  • Waive CB Damarri Mathis, freeing up $985,000 of cap

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Kansas City Chiefs

Despite another division title, & a 3 seed in the AFC, the Chiefs’ 2023 regular season has largely been interpreted as a bit of a let down. Most of this stems from KC’s lack of explosiveness offensively, and it’s safe to say that new blood will be brought in to help that notion, but it’s the defensive side of the ball where much of the internal contract discussions need to be had. The Chiefs hit the offseason with around $30M of cap space.

NOTABLE PENDING UFAS

QUARTERBACK
Blaine Gabbert

RUNNING BACK
Clyde Edwards-Helaire, Jerick McKinnon

WIDE RECEIVERS
Richie James, Mecole Hardman
Bubble: Marquez Valdes-Scantling, Justin Watson, Skyy Moore, Kadarius Toney, Justyn Ross

TIGHT ENDS
Blake Bell

OFFENSIVE LINE
Donovan Smith,
Bubble: Mark Glowinski

DEFENSIVE LINE
Chris Jones, Derrick Nnadi, Tershawn Wharton

EDGE DEFENDERS
Michael Danna

LINEBACKERS
Willie Gay Jr., Drue Tranquill

SECONDARY
L'Jarius Sneed (CB), Mike Edwards (S), Deon Bush (S)

SPECIAL TEAMS
Tommy Townsend (P), James Winchester (LS)

CAP CLEARING POSSIBILITIES

  • Convert QB Patrick Mahomes’s $34.9M roster bonus into a signing bonus, freeing up $27.9M of cap
  • Release WR Marquez Valdes-Scantling, freeing up $11.98M of cap
  • Waive WR Skyy Moore, freeing up $823k of cap
  • Waive WR Justyn Ross, freeing up $915,000 of cap
  • Process a full base salary conversion for TE Travis Kelce, freeing up $8.6M of cap when factoring in 3 void years.
  • Process a full base salary conversion for OL Joe Thuney, freeing up $11.4M of cap when factoring in 3 void years.
  • Process a full base salary conversion for OL Jawaan Taylor, freeing up $14.7M of cap when factoring in 2 void years
  • Extend DE Charles Omenihu, lowering his current $10.9M cap hit. He projects toward a 3 year, $28M contract in our system.
  • Extend S Justin Reid, lowering his current $14.2M cap hit. Reid projects toward a 3 year, $23M contract in our system.
  • Extend K Harrison Butker, lowering his current $4.5M cap hit.

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Las Vegas Raiders

A midseason gutting of the staff & change at QB1 tells you everything you might need to know about the Raiders season. Will the core contracts (Adams, Miller, Crosby) stick around for this next iteration, or is this 2024 offseason about another wholesale change? Las Vegas enters 2024 with around $55M of Top 51 cap to work with, and the #13 overall pick in April’s draft.

NOTABLE PENDING UFAS

QUARTERBACK
Bubble: Jimmy Garoppolo

RUNNING BACK Josh Jacobs, Ameer Abdullah

WIDE RECEIVERS
Bubble: Hunter Renfrow

TIGHT ENDS
Austin Hooper

OFFENSIVE LINE
Andre James, Jermaine Eluemunor, Greg Van Roten
Bubble: Jason Kelce (retirement)

DEFENSIVE LINE
Bilal Nichols, John Jenkins, Adam Butler
Bubble: Jerry Tillery

EDGE DEFENDERS
None.

LINEBACKERS
None.

SECONDARY
Amik Robertson (CB)

SPECIAL TEAMS
None.

CAP CLEARING POSSIBILITIES

  • Designate QB Jimmy Garoppolo a Post 6/1 release, freeing up $12.1M of cap after June 1st.
  • Process a full base salary conversion on WR Davante Adams, freeing up $12.5M of cap when factoring in 2 void years
  • Process a full base salary + $5.5M roster bonus conversion on WR Jakobi Meyers, freeing up $7.5M of cap when factoring in 3 void years.
  • Release WR Hunter Renfrow, freeing up $8.1M of cap
  • Extend OT Kolton Miller, lowering his current $15.6M cap hit in 2024. Miller projects toward a 3 year, $60M extension in our system.
  • Process a full base salary conversion on DE Maxx Crosby, freeing up $14.3M of cap when factoring in 2 void years
  • Release DT Jerry Tillery, freeing up $3.8M of cap
  • Extend S Marcus Epps, lowering his current $7.3M cap hit. Epps projects toward a 3 year, $23M extension in our system.

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Los Angeles Chargers

The Chargers are in the process of locating their next General Manager & Coaching staff, putting a bit of a hold on plans to begin what could be a massive turnover with this roster. Something will need to give sooner rather than later however, as LA enters the offseason -$34M in cap space, with 46 players under contract. The Chargers hold the #5 pick in this April’s draft.

NOTABLE PENDING UFAS

QUARTERBACK
Easton Stick

RUNNING BACK Austin Ekeler, Josh Kelley

WIDE RECEIVERS
Alex Erickson, Jalen Guyton, Keelan Doss
Bubble: Mike Williams, Keenan Allen

TIGHT ENDS
Gerald Everett, Nick Vannett,

OFFENSIVE LINE
Will Clapp
Bubble: Corey Linsley (retirement?)

DEFENSIVE LINE
Austin Johnson, Nick Williams
Bubble: Morgan Fox

EDGE DEFENDERS
Bubble: Joey Bosa (trade?)

LINEBACKERS
Kenneth Murray

SECONDARY
Michael Davis (CB), Essang Bassey (CB), Alohi Gilman (S)
Bubble: JT Woods

SPECIAL TEAMS
None.

CAP CLEARING POSSIBILITIES

  • Trade WR Keenan Allen, freeing up $23.1M of cap
  • Release WR Mike Williams, freeing up $20M of cap
  • Process Corey Linsley’s retirement, freeing up $8.9M of cap
  • Process a full base salary conversion for OL Trey Pipkins, freeing up $4.1M of cap when factoring in 3 void years.
  • Release DL Morgan Fox, freeing up $3.5M of cap
  • Trade EDGE Khalil Mack, freeing up $23.25M of cap
  • Trade EDGE Joey Bosa, freeing up $14.3M of cap
  • Process a $1.5M roster bonus conversion for LB Eric Kendricks, freeing up $1.2M of cap when factoring in 4 void years.
  • Process a full base salary conversion for S Derwin James, freeing up $9.3M of cap when factoring in 2 void years.
  • Extend P JK Scott, lowering his current $2.51M cap hit

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