Denver has agreed to trade four-time Pro-Bowl OT Ryan Clady and a 7th-round pick to the Jets for a 5th-round pick, league sources told ESPN.
— Adam Schefter (@AdamSchefter) April 9, 2016
By trading Clady, the Broncos will gain $8.9 million in 2016 cap space while carrying $1.2 million in dead money from Clady’s remaining prorated bonuses. This should give the Broncos something close to $10 million in 2016 cap space.
The Jets’ 5th round pick is #157 overall. At this time, it is unclear which of the three of the Broncos’ 7th round picks (#228, #235, or #253) they gave up.