Denver has announced that Trevor Siemian will be under center when the Broncos open the season in Week 1. As such, Sanchez simply wasn’t a fit for the Denver roster unless he was the backup signal-caller. With first-round pick Paxton Lynch pushing him for that role, Sanchez’s cap hit wasn’t palatable for a No. 3 QB.
While Siemian is only due to earn a minimum salary during the upcoming season, Sanchez was scheduled to count $4.5MM on Denvers’ salary cap, $1MM of which is guaranteed. Sanchez could have earned another $3MM through incentives, but the Broncos cleared $3.5MM off their books by trading him before the start of the season.
The Eagles will not receive a conditional draft pick given that Sanchez will not make Denver’s roster.
Photo courtesy of USA Today Sports Images.