ENGLEWOOD, Colo. -- The Denver Broncos have lost $4.5 million worth of salary-cap space as part of the repayment of a loan from the NFL that dates to the 2011 lockout.
Like most teams the Broncos used the loan -- $3 million in 2011 and $1.5 million later -- during and following the league's work stoppage. The 2010 season was an "uncapped year" as the previous collective bargaining agreement was voided by the league owners and 2011 was the first season of the new CBA, signed after a lockout and just before that season began.
As part of the repayment of those loans, teams that borrowed the money were to surrender the corresponding salary-cap space as well at a set deadline.