This year's salary cap is $143.28 million. Teams that did not use all of their cap space in 2014 can roll that space over into 2015. Denver rolled over $5.87 million from last year.
Denver has the eleventh-highest adjusted salary cap this year. Jacksonville tops all teams with $168,486,107.
The Broncos currently have $133,475,312 invested in current player contracts, according to Spotrac.com. That leaves Denver with $16,587,712 to use in free agency this offseason.
On Monday, the Broncos used their franchise tag on wide receiver Demaryius Thomas. The tag will pay Thomas $12,823,000 this season.
Denver's next order of business will be re-signing players and targeting free agents across the league. Broncos set to become free agents include defensive tackle Terrance Knighton, safety Rahim Moore, offensive lineman Orlando Franklin, and tight ends Julius Thomas and Virgil Green.
Potential free agent targets for the Broncos include tight end/fullback James Casey, offensive lineman Mike Iupati, defensive tackle Nick Fairley, and return specialist Jacoby Jones.
The Broncos can begin negotiating with players on March 7. The new league year — and the free agency signing period — will begin at 2 p.m. MT on March 10.
This story has been updated to reflect corrected salary cap numbers. Incorrect numbers from Over The Cap have been updated with numbers from Spotrac.