Broncos punter Britton Colquitt agreed to take a salary reduction to $1.4M for this season.
Jeff Legwold first reported the move.
With @FieldYates — #Broncos have re-worked P Britton Colquitt's deal. Colquitt had a 3.75 M cap figure, his salary will now closer to $1.6M
— Jeff Legwold (@Jeff_Legwold) August 3, 2015
Colquitt was set to make $3M in base salary this year, but the move will free up $1.6M in cap space, assuming Colquitt makes the roster.
He is still competing with Karl Schmitz for the punting job, but now that he has taken a pay cut, his chances of making the final roster may have increased.