Originally posted on The Victory Formation  |  Last updated 3/15/13

The big news out of Denver earlier today was that the Denver Broncos and defensive end Elvis Dumervil were able to negotiate a restructured contract that would allow him to continue to play in Denver, but only cost the organization $8 million this year, as opposed to the $12 million he was owed. It appears that will not be the case, as Dumervil failed to get his signed agreement to the team before the 2PM MT deadline, which would make the $12 million guaranteed. The Broncos have now released Dumervil. It’s quite a shocking development, as it looked as if a crisis was averted. John Elway had said earlier in the week that he wanted to keep Dumervil, but there was no way he was going to pay him $12 million this season. Apparently, the fax that Dumervil and his agent sent in was not received until 2:07PM MT time, and this forced the Broncos hand. The Broncos could still sign Dumervil, but it complicates the salary cap structure. By releasing him, it opened up $3.25 million in cap space, while the restructure would have given them close to a million more, allowing for further transactions. Dumervil is still a [...]

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