Garett Bolles' contract extension is a good deal for the Broncos

Denver Broncos left tackle Garett Bolles broke the news about his contract extension on Dec. 12. The deal was initially reported as a four-year, $82 million extension that could reach up to $86 million with incentives, worth an average of $20.5 million per season.

“The way he’s played — he’s available,” Broncos coach Sean Payton said on Dec. 13. “He’s someone who’s in incredible shape. I didn’t realize he was [32]. George [Paton] and I were talking — I just never paid attention to that. He does a great job at taking care of his body and then besides that — the most important thing — is he’s one of the premier pass blockers in our league.

“He stays in front of his guy. Regardless of — there are times where we have to help elsewhere and that’s hard to find. So he’s excited about it [and] we are as well. It’s much deserved and you guys know how important I feel like that position group is when you’re budling a team.”

Instead of testing the open market in 2025, Bolles took a team-friendly extension with hopes of finishing his career in Denver. Now that the details of the contract are known, it’s an even better deal for the Broncos than initially known.

Bolles has $23,735,000 fully guaranteed, according to OverTheCap.com, with all of his guaranteed salary coming in 2024 and 2025. His signing bonus will be prorated as $800,000 salary cap hits in 2025, 2026, 2027 and 2028.

The Broncos have team options in each of the next four seasons and Bolles can earn $765,000 through per-game roster bonuses each season. After the 2025 season, none of his salary is guaranteed for the rest of his contract.

So, in theory, Denver could move on from a 34-year-old Bolles in 2026 by taking on a $2.4 million “dead money” cap hit with a net savings of more than $6.8 million. The team would save $27 million if he’s let go in 2027 and $26.88 million in 2028.

It’s essentially a two-year extension for Bolles and it’s easy for the Broncos to get out of it starting in 2026. Here are his cap hits for the next five season, according to OTC:

2025: $5,816,000 ($12.36M lost if cut)
2026: $9,248,000 ($6.84M saved if cut)
2027: $28,683,000 ($27M saved if cut)
2028: $27,683,000 ($$26.88M saved if cut)
2029: $9,770,000 (void year)

Bolles also has void years from 2030-2033, but those should not impact the team’s cap space. If Bolles stays healthy and continues playing at a high level, he’ll be paid well in his final years in Denver. If the veteran tackle declines, the Broncos can move on without much cap trouble. It’s a good situation for Denver.