Denver Broncos salary cap 2023: How much cap space does Denver have?

The Denver Broncos had high expectations in the 2022 season after luring Russell Wilson from the Seattle Seahawks. However, the quarterback struggled to acclimatize to his new surroundings.

Wilson led the Broncos to a disastrous fourth-place finish in the AFC West with a 5-12 record. Denver's miserable run also led to the firing of first-year head coach Nathaniel Hackett near the end of the season.

Nonetheless, the Broncos landed one of the biggest fish in the pond in the form of Sean Payton and will be hoping that the Super Bowl-winning coach leads them to glory next season. However, Payton will have some of the team's salary cap issues to sort out before getting to work with his players.

For the 2023 season, the salary cap is set at $224.8 million, which is a $20 million increase from the previous campaign. According to reports, the Broncos have $9,537,351 in cap space on the eve of NFL free agency.

The Broncos are likely to put their faith in Wilson as their signal caller for next season as he showed some signs of resurgence toward the back end of last season. The nine-time Pro Bowler is also on course to earn the highest salary in Denver in 2023.

Denver Broncos' biggest contracts ahead of NFL free agency

Denver Broncos QB Russell Wilson

Here's a look at the four Denver Broncos stars who are tipped to make the most money (cap hits) for the 2023 season:

1. Russell Wilson (QB) — $22,000,000
2. Courtland Sutton (WR) — $18,266,176
3. Justin Simmons (S) — $18,150,000
4. Garrett Boles (OT) — $17,823,529

Interestingly, Denver has already released Chase Edmonds, Ronald Darby and Graham Glasgow which saved them $26.57 million in cap space.

The Broncos are expected to make some additions to their roster in the offseason. They don't have any of their own first-round picks after trading for Wilson.

Denver also used the one acquired from Miami in the Bradley Chubb trade to get Sean Payton. While the team has five picks in the 2023 draft, their own first selection will come in the third round.