The Broncos have restructured the contract of punter Britton Colquitt, reducing his base salary by $1.4 million for 2015, an NFL source confirmed.
Colquitt signed a four-year, $13 million contract in 2013 that provided him a base salary of $3 million this season and had a cap hit of $3.75 million for the Broncos. The $1.6 million salary applies only to 2015; his salary for 2016, the final year on his deal, remains at $3.25 million.
The changed contract likely implies that Colquitt will remain the Broncos' punter.
The team had signed kicker/punter Karl Schmitz in March.