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Broncos place Christopher Allen on injured reserve

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The Walton-Penner family has officially been approved to buy the Broncos, prompting Mike Florio and Chris Simms to dive into how their ties to the region and new level of wealth could shape the team.

The Broncos needed to make room for the signings of running backs Stevie Scott and JaQuan Hardy. They waived running back Tyreik McAllister with an injury designation and placed linebacker Christopher Allen on injured reserve.

Now out for the season, Allen will take a redshirt year as he works his way back from a foot injury.

The Alabama product fractured his foot in a September win over the University of Miami, and he required surgery to repair the Lisafranc injury. He had two screws removed from his foot Jan. 31, according to Mike Klis of News9.

The Broncos gave the college free agent a $30,000 signing bonus plus another $150,000 in salary guarantee, the most among the team’s undrafted rookies.

McAllister was injured during Tuesday’s training camp practice.