The Denver Broncos and wide receiver Tim Patrick agreed to a reworked one-year contract for the 2024 NFL season on Friday, according to Mike Klis of 9News in Denver and Parker Gabriel of the Denver Post.
Per Spotrac, Patrick had been set to earn a base salary of $9.5 million in 2024 and would have counted $15.5 million against the salary cap. Cutting or trading Patrick would have saved the Broncos $9.5 million against the salary cap, but they would have absorbed just over $6 million in dead cap as well.