The Denver Broncos parted ways with Brandon McManus on May 23, but the team officially designated the move as a post-June 1 transaction. (He has since signed with the Jacksonville Jaguars.)

Doing so will give the team extra salary cap relief by spreading out the kicker’s “dead money” salary cap hit over two years instead of one.

The Broncos will eat $1,231,250 worth of dead money this season with a net cap savings of $3.75 million, according to OverTheCap.com. Our rough math suggests that will leave the team with about $10,873,976 in total salary cap space for the 2023 season.

Denver will use a portion of that cap space for new kicker Elliott Fry, and the team will want to keep the rest available for potential in-season signings. Any cap space the Broncos do not use this year will roll over and increase the team’s 2024 cap limit.

Denver will also want to save some cap space for future extensions — Garett Bolles, Justin Simmons, Tim Patrick, D.J. Jones, Jerry Jeudy, Quinn Meinerz, Baron Browning, Caden Sterns, Jonathon Cooper and Javonte Williams are among the team’s players scheduled to become free agents in 2025.

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