Broncos release Hill, sign WR Anderson, RB McGahee

The Broncos have made a trio of moves this evening, releasing veteran safety Renaldo Hill after two seasons with the team and adding RB Willis McGahee and Colorado State alum and former Texans WR David Anderson. Hill had not been practicing with the team since the opening of training camp, with John Fox dubiously claiming the eleventh-year player was out due to dehydration on Thursday. Hill was due to make $2.4M with a cap number of $2.775M; he had been under contract through 2012 and will count for $750K against the 2012 cap*. He played and started in 31 of 32 games since being signed as a free agent by Denver before the 2009 season, amassing 98 tackles, two picks, and two forced fumbles.

* I wrote the other day that the release of Correll Buckhalter would accelerate the unamortized chunk ($900K) of his original signing bonus to hit the Broncos' 2011 cap, but that was not correct. All accelerated bonuses from this week and going forward will be charged to teams' 2012 caps. Probably should have figured this out before calling out the DP guys for their transgressions. Glass houses/stones, that whole thing. Anyway, I think I've got it all straight now.

Meanwhile, McGahee (6'0" 228 lbs) has reportedly agreed to a four-year deal with the Broncos worth around $10M; yesterday's report had Denver giving the 29-year-old RB a three-year deal worth $7.5M with $3M in guarantees. Once we get the details on his guarantee we'll know whether the Broncos' FO snafu cost them financially (unless it was just premature reporting and there never was a deal; that's certainly a possibility). Anderson is entering his sixth NFL season after spending the entirety of his career with the Texans, who drafted him in the seventh round of the 2006 Draft. The former CSU Ram (5"10' 196 lbs) has 81 career receptions for 886 yards and three touchdowns, and was used sparingly as a kick returner in Houston.

Doug is IAOFM’s resident newsman and spelling czar. Follow him on Twitter @IAOFM