Elvis Dumervil had a guaranteed $12 million dollars that would have gone into effect if he was still on the roster by today’s deadline. Denver wanted him to take a paycut this year, as they tried to free up cap space after several other free agent moves.
With 24 minutes remaining until the deadline, Dumervil agreed to a negotiated paycut in exchange for shifting some guaranteed money to future years, according to Mike Klis. However, the Broncos did not receive a signature on a new contract until seven minutes after the deadline, and released Dumervil when they did not have the paperwork back before the 1:59 Mountain Time deadline.
Elvis Dumervil is now a free agent, free to negotiate an entirely new deal with Denver . . . or someone else.
[photo via USA Today Sports Images]