Originally written 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 [...]

GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Florida CB Vernon Hargreaves III will play some offense

Rutgers dismissed five football players who were arrested

Report: Independent neurologist resigns following RG3 disaster

Fabio Fognini stuns Rafael Nadal in epic match

Report: Patrick Kane’s rape case will soon be heard by grand jury

Brady issues statement on Facebook after having suspension lifted

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Don Orsillo reportedly asked to lie about being fired by NESN

Matt Cassel believes Bills will keep three quarterbacks

St. Louis police seize scalpers' World Series tickets to give to friends

Eli Manning happy Tom Brady will play NFL season opener

Phil Kessel has shed 13 pounds this summer

Cam Newton addresses ‘gang’ photo on Instagram

NFL News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Wisconsin vs Alabama preview

Tom Brady issues statement on Facebook

Robert Griffin III and a dream deferred

Best, worst surprises of NFL preseason

The Gospel Of Harbaugh prepares for its ultimate test of faith

Meet the Utah Utes, the pluckiest program in college football

Iman Shumpert will name daughter Iman Shumpert Jr.

Dallas company celebrates Romo with DirecTV 'crownies'

Top 10 storylines for Week 4 of the NFL preseason

Matt Williams is still hopelessly married to the idea of the closer’s role

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker