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Broncos still carry $1 million on the books for McGahee

Willis McGahee AP

The Broncos unwittingly picked up $2.5 million in cap space via an insurance-related rewriting of Peyton Manning’s contract.  The knowingly cleared another $2.5 million by cutting running back Willis McGahee.

His base salary of that amount disappears immediately.  But he’ll still cost a total of $1 million over the next two years, based on his prorated signing bonus.

Specifically, the Broncos will carry $500,000 in 2013 and $500,000 in 2014.

As someone asked on Twitter, does McGahee get that money?  Yes, but only because he already has received it.

When he signed in 2011, McGahee received $2 million up front.  On a four-year deal, that’s a $500,000 allocation per year.

And now I can put my calculator away.

So what will the Broncos do with that $5 million?  They can spend it now, or they can spend it later.  Eventually, they’ll have to decide what to do with receivers Eric Decker and Demaryius Thomas, whose production with Peyton throwing passes will push them toward the upper reaches of the pass-catcher market.

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3 Responses to “Broncos still carry $1 million on the books for McGahee”
  1. broncostevenp says: Jun 13, 2013 3:25 PM

    Broncos sure are taking a chance here. Moreno is coming off another injury, Hillman is small, and Ball is a rookie. I would have rather they approached Willis about re-doing his contract. Maybe they did and that is why he skipped OTA’s, but I am nervous about our depth at RB.

  2. jrebar88 says: Jun 13, 2013 3:38 PM

    Appreciate what he did in his time with the Broncos. Too bad it couldnt have been sooner in his career, because I always liked McGahee. Thanks for bringing back the Mile High Salute!

  3. atwatercrushesokoye says: Jun 13, 2013 4:36 PM

    Decker’s in his last year, Thomas has one more after this, Clady needs a long term deal and oh yeah after this season they’ll probably give an extension to that Miller guy, I heard he’s pretty good…

    They’ll put good use to the money!

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