Several sources reported on Friday that defensive end Elvis Dumervil agreed to a 2013 pay cut that would reduce his base salary from $12 million to $8 million, per Albert Breer of the NFL Network. Reports indicated that Dumervil agreed to the pay cut a mere 30 minutes from the 4:00 p.m. ET deadline. At that point, the Broncos would have released Dumervil to avoid his salary strapped to their 2013 salary cap.
Here's the apparent problem, though -- according to Mike Klis of the Denver Post, Dumervil's agent, Marty Magid, failed to fax the paperwork back to the Broncos in time. So, the Broncos had to release Dumervil to avoid taking a $13.6 million total hit. Whoops!
"These are the deals that wrench your gut," Broncos executive vice-president John Elway told the Denver Post on Thursday. "As an ex-player, I hate to see that. I hated to see that happen to a teammate. And I hate having to do it, in the position I'm in. But I've got to do what's best for this football team.
Denver Broncos DE Elvis Dumervil’s pay cut papers filed late; leaving him on the open market
Yahoo! Sports | Mar 15