Garett Bolles and Justin Simmons are two players on veteran contracts that are not expiring but have only one season remaining. Both players have also continued to play at the high levels they have sustained since signing their veteran contracts. Both players have played integral leadership roles for the Broncos on their respective sides of the football. And both players are set to have high salaries in 2024 ($14 million for Bolles, $14.4 million for Simmons) that would be useful to prorate some of their associated cap dollars into the future.
All of these goals could be attained by securing a pair of short term extensions that keep them in the fold at least one season longer than they are under contract for now.
The contract structure used
The features in each of this contract consist of the following:
- A two year extension at a higher APY than their previous contracts, but lower than the top tier of the market at their positions.
- Immediate payment of most of their current pay for 2024 and future pay for 2025 via a signing bonus.
- A $1 million roster bonus alongside unguaranteed salary in 2026 due soon after the start of the 2026 league year, to incentivize an early release into the thick of free agency if the Broncos wish to cut them then.
- Two void years to prorate signing bonus cap dollars to future seasons.
A sample contract for Bolles
| Base Salary | Prorated Bonus | Roster Bonus | Cap Number | Cash Due | Running Cash† | ||
| 2024 | $1,750,000 | $10,850,000 | $0 | $12,600,000 | $36,000,000 | $20,000,000 | |
| 2025 | $1,255,000 | $6,850,000 | $0 | $8,105,000 | $1,255,000 | $21,255,000 | |
| 2026 | $17,745,000 | $6,850,000 | $1,000,000 | $25,595,000 | $18,745,000 | $40,000,000 | |
| 2027 | Void | $6,850,000 | $13,700,000 | ||||
| 2028 | Void | $6,850,000 | Void |
italics – fully guaranteed salary
†Running cash does not include $16 million in old money from Bolles’s rookie contract.
For Bolles, this is a two year, $40 million contract extension with an APY raise from $17 million to $20 million. Bolles is paid $34.25 million at signing, $20 million of which is in new money representing his approximate pay for 2025. Bolles’s 2024 cap number is reduced from $20 million to $12.6 million. Given that it’s been reported that Bolles has been seeking a new contract, this could be a contract to prioritize.
A sample contract for Simmons
| Base Salary | Prorated Bonus | Roster Bonus | Cap Number | Cash Due | Running Cash† | ||
| 2024 | $1,500,000 | $9,950,000 | $0 | $11,450,000 | $32,500,000 | $18,000,000 | |
| 2025 | $1,255,000 | $6,200,000 | $0 | $7,455,000 | $1,255,000 | $19,255,000 | |
| 2026 | $15,745,000 | $6,200,000 | $1,000,000 | $22,945,000 | $16,745,000 | $36,000,000 | |
| 2027 | Void | $6,200,000 | $12,400,000 | ||||
| 2028 | Void | $6,200,000 | Void |
italics – fully guaranteed salary
†Running cash does not include $14.5 million in old money from Simmons’s rookie contract.
And for Simmons, this is a two year, $36 million contract extension with an APY rise from $15.25 million to $18 million. Simmons gets paid $31 million at signing, once again with $18 million in new money equating his APY and approximating his pay for 2025. Simmons’s 2024 cap number is reduced from $18.25 million to $11.45 million.
Securing some stability
If one squints hard enough, one could conceptualize incumbent replacements for Bolles and Simmons on the roster in Alex Palczewski and JL Skinner that were acquired in the 2023 rookie class. But suffice to say, given their extremely sparse play as rookies, that is farfetched right now. Furthermore, even if they improve into starting caliber players, they may be replacing other players on the roster. Skinner may instead be in competition for the other safety position alongside Simmons that will have immediate question marks this offseason with PJ Locke as a free agent and Caden Sterns recovering from injury. And Palczewski could be first called upon on the other side of the offensive line if the Broncos choose to move on from Mike McGlinchey after 2024. Retaining key leaders in Bolles and Simmons for a couple more seasons can give the Broncos flexibility in finding their successors in future rookie classes.