BREAKING: Broncos are unlikely to add another top player to their roster, with $14.5 million cap savings.

Several experienced safeties were released before free agency, and many, including Justin Simmons, remain unsigned long after the draft. Simmons’ eight-year stint with the Broncos ended in March, freeing up $14.5 million in cap space for 2024, the final year of his contract. Instead of negotiating an extension to reduce his cap hit, the Broncos chose to release Simmons, making him one of the most notable cuts this offseason.

The two-time Pro Bowler hasn’t been linked to any teams during his free agency period, and a return to the Broncos seems unlikely. According to Parker Gabriel of the Denver Post, it appears “very unlikely” that Simmons will sign a new deal with Denver, as the team hasn’t shown interest in renewing their relationship.

Shortly after Simmons’ release, the Broncos re-signed fellow safety P.J. Locke on a two-year contract. Locke, who stepped up when Kareem Jackson was suspended in 2023, earned his new deal with solid play. Denver also has Caden Sterns, Delarrin Turner-Yell, and JL Skinner as returning safeties.

In free agency, the Broncos quickly signed Brandon Jones from the Dolphins for $20 million over three years. Jones, 26, will be expected to fill Simmons’ role, despite his career stats (three interceptions, nine pass deflections) not matching Simmons’ (30 interceptions, 64 pass breakups). Nevertheless, Jones will have ample opportunities to make an impact with Denver.

The Broncos didn’t draft a safety, positioning Jones and Locke as the starters for 2024. While a reunion with Simmons isn’t entirely off the table until he signs elsewhere, it seems likely he’ll join a new team for the first time in his career. His move could be the first of many safety signings in the late stages of free agency.