The NFL has set the 2013 salary cap at $123M per team, which is an increase of $2.4M over the 2012 figure of $120.6M. There's some confusion here, as Chris Mortensen says the figure is actually $123.9M, but given that Albert Breer works for the NFL and acknowledges the discrepancy, we'll trust that he has the correct number at $123M flat.
According to USA Today's salary site Spotrac, this means the Broncos currently have a healthy $17,769,751 in available cap space.
They'll be able to create even more space by cutting or reworking the deals of linebackers D.J. Williams and Joe Mays, whose names have been conspicuously omitted by Johns Elway and Fox while characterizing the starting middle linebacker job as a battle between third-year player Nate Irving and Steven Johnson, who was signed as an undrafted rookie out of Kansas in 2012.
Chances are, a significant chunk of that cap space will go toward retaining Ryan Clady, who is expected to get Denver's exclusive franchise tag. According to Shutdown Corner, the non-exclusive tender will have a value of $9.828M, meaning the exclusive tender would carry a salary higher than that.
It's been reported since during the regular season that the exclusive tag was set to be worth $9.66M, but the figure now appears to be closer to $10M. Tender values will be established in March.
The $123M cap number is higher than had been expected earlier in the month, and for a team like Denver, it could provide them enough breathing room to make one or two moves more than they otherwise would have.