The Broncos have decided to move on from one of their signings from the 2020 free-agent class sooner than expected, by releasing Nick Vannett.
Vannett was signed last season to serve as the No. 2 to Noah Fant and to be the Broncos’ best blocking tight end. Unfortunately, he wasn’t a difference-maker as a blocker and he was clearly outplayed as a receiver by Albert Okwuegbunam once the rookie entered the starting lineup.
That, along with his contract, makes the decision to release him unsurprising. His 2021 cap hit was set to be just over $3.5 million and the Broncos take on just $875,000 in dead cap by releasing him, which saves Denver a final sum of $2.68 million against the cap.
In other words, the release of Vannett fully paid for new running back Mike Boone’s 2021 salary with the team.
The only aspect of Vannett’s release that comes as a surprise is the timing of it. Unless the Broncos move Andrew Beck back to tight end — which wouldn’t be shocking — they’re now without a blocking tight end on the roster. Vannett’s value as a blocker and his strong stretch of play to close the season led to the belief that he would at least make it to training camp before getting cut.
On top of that, it’s also surprising the team chose to move on from Vannett before releasing Jeff Driskel; a player who offered even less value that could save the team a good deal of money by being released. Denver will likely hold onto to Driskel until they have Lock’s veteran competition in place, just to make sure they don’t get caught in a position without a quality backup.
The Broncos will now either need to sign or draft a player to replace Vannett or find a potential replacement elsewhere on the roster. That said, replacing Vannett should be very easy.
