If the Broncos can’t work a pay reduction with Elvis Dumervil, a league source said the team would be interested in pursuing former Indianapolis Colt pass rusher and Peyton Manning teammate Dwight Freeney.

The Colts have already announced they would allow Freeney to enter free agency when the market opens Tuesday.

Freeney at 33 is no longer considered the pass rusher that Dumervil is at 29. Freeney had 5 and 8.5 sacks the past two seasons; Dumervil had 11 and 9.5. But the thinking would be the Broncos might be better off getting Freeney at, say, $5 million than Dumervil at $12 million, and using the $7 million difference on players that could fill needs elsewhere on the roster.

For now, the Broncos’ first wish is for Dumervil to return on a reduced salary. But with the franchise tag for defensive ends at $11.175 million — or $825,000 less than what Dumervil is scheduled to make in 2013 — he doesn’t figure to be receptive to a substantial cut.