The list of veteran safeties who will be available in free agency continues to grow. ESPN's Adam Schefter reports that the Broncos are moving on from Justin Simmons. Per a team announcement, the move is now official.
One year remained on Simmons’ pact — one with an AAV of $15.25M, sixth-highest in the league at the position — and he was set to carry a cap hit of $18.25M. By cutting bait with the 30-year-old, Denver will save $14.5M while generating a dead money charge of $3.75M. The move will end Simmons’ eight-year tenure in the Mile High City, where he has consistently been one of the team’s top producers.
Given the nature of his cap hit, the former third-rounder’s future was questioned earlier this offseason. A report from last month noted the likelihood of a deal lowering Simmons’ cap charge, which could have been accomplished via a restructuring or extension. Instead of taking either route, though, the Broncos — met with several financial challenges given the enormous dead money charge the Russell Wilson release will trigger — will cut bait altogether.
Simmons has played each of his 118 career games with the Broncos, generating a well-earned reputation as one of the league’s top safeties. He has recorded at least two interceptions yearly, including a league-leading six in 2022. This past campaign saw continued production on the backend (three interceptions, eight pass breakups, two forced fumbles), and Simmons received a second career Pro Bowl invitation.
Since 2019, the Boston College product has earned second-team All-Pro honors four times while remaining healthy and productive. His 30 interceptions since his rookie campaign (2016) are the most in the NFL during that span. As a result, his absence will be sorely felt in Denver’s secondary moving forward, while several suitors will no doubt show interest in Simmons now that he is available.
The Broncos had a long-standing tandem at the safety spot with Simmons and Kareem Jackson serving as starters. After a campaign featuring multiple ejections, fines and suspensions, the latter was waived in December and claimed by the Texans. Jackson is a pending free agent, but a Broncos reunion would be a major surprise. P.J. Locke — who took over as a starter due to Jackson’s absence — is also set to reach the open market next week, so plenty of additions could be required for the Broncos to re-build their safety depth chart.
Denver entered Thursday as one of the team’s sitting over the cap ceiling, meaning cost-cutting moves would be required. Releasing Simmons will bring the team to within roughly $1.85M of compliance, so any subsequent maneuvering will likely not be as notable as today’s move. Still, the loss of Simmons will challenge Denver as the team aims to build off the defensive rebound seen last season after a woeful start to the campaign on that side of the ball.
Simmons’ durability (seven missed games since 2018) and production should help him find a new home relatively soon. Many teams have moved on from pricey safeties in the lead-in to free agency; however, the likes of Jordan Poyer, Rayshawn Jenkins, Kevin Byard, and Quandre Diggs have recently been released. Interested suitors will have several options at the safety spot, but Simmons could command the most lucrative deal.
More must-reads: