Elvis Dumervil has agreed to restructure his contract with the Denver Broncos, according to ESPN's Adam Schefter. The talented defensive end was on the verge of being cut due to his old deal that paid him $12 million per season. General manager John Elway was critical of Dumervil's contract Friday, calling it "out of whack" with the market at large.
Dumervil's new base salary comes out to about $8 million per season, according to Albert Breer of the NFL Network. Despite the big pay cut, Dumervil will still be paid among the better defensive ends in the league. For example, the transition tag number set at the average salary of top ten highest paid players at his position came out to just under $9 million this offseason.
Dumervil was very productive last season, racking up 11 sacks during the 2013 regular season. His numbers pale in comparison to the 17 sacks he put up in 2010, however. With the Broncos signing the likes of Wes Welker and Louis Vasquez and Dominique Rodgers-Cromartie, and Peyton Manning eating up $25 million of the salary cap this offseason, the Broncos needed to make space somehow. Once again, Elway got what he wanted.