The Broncos released quarterback Joe Flacco Thursday with a failed physical designation, according to a source.
Flacco’s Broncos career consisted of eight games. He was scheduled to have the Broncos’ second-largest cap number this year ($23.65 million). His release creates $10.05 million in cap space.
Flacco restructured his Broncos contract before the 2019 regular season began, creating $13.6 million in cap space by covering $17 million in salary to a signing bonus. Had the contract remained unchanged, the Broncos could have cut Flacco after the season with no cap penalties.
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Flacco, 35, was acquired last March for a fourth-round pick, the Broncos believing he was equal parts an upgrade at quarterback and a multi-year option.