In a long expected move, the Broncos have released tight end Joel Dreessen with one year remaining on his three-year contract.
Dreessen failed a physical after having had three knee surgeries over the past two offseasons.
The Coloradan and CSU alum might have been a cap casualty anyway, but his knee issues are apparently severe enough for him to have missed the season.
Dreessen, who played one year with the Jets and another five in Houston, says he's aiming to catch on as a long snapper and backup tight end somewhere in 2015.
Had his knee been healthy at the time of his release, Denver would have saved $2.5M against the cap.
According to the DP, Dreessen is likely to receive an injury settlement of $1.05M, which would reduce the Broncos' cap savings to $1.45M.
That figure would also be their cash savings, as the ninth-year player was due a $2.5M salary.
Dreessen caught 48 passes for 403 yards and six touchdowns in 29 games over two seasons with Denver.
Per PFF, he posted an excellent +13.7 grade over 947 snaps in 2012, including postseason.
But that troublesome left knee limited the Fort Morgan native to just 163 snaps in 2013, and his effectiveness slipped greatly; Dreessen graded out at -4.7 during that brief period.
Denver is left with Julius Thomas as a roster lock at tight end, with Jacob Tamme and Virgil Green almost assured spots as well.
Former wideout Gerell Robinson is a developmental prospect, while Jameson Konz and Cameron Morrah are likely camp fodder.