According to 9News’ Mike Klis the Broncos will not pick up the team option for safety Kareem Jackson. He will become a free agent.
The move creates $10 million in cap space while the Broncos will incur a $2,882,353 dead cap hit. George Paton elected to cut the 32-year old after the first dominoes of free agency began to fall, which suggests the safety market may have influenced this decision.
Broncos did try to restructure Jackson's contract before tomorrow's deadline for $1.5M guarantee option and $10 million salary.