According to Elvis Dumervil's agent Marty Magid, the defensive end is willing to rework his deal:
They informed us they want to do a restructure. I'm not classifying this as a pay cut. I'm going ahead with this being a restructure. If we can meet on some common ground, there's a potential we can get it done. If we can't, they'll have to make a decision. But we're definitely in good faith going to try to negotiate this out. Elvis wants to return as a Bronco if it all possible, and that's what we're trying to do — make the client happy and try to appease the team.
Translation: Denver's going to have to pony up a lot more guaranteed money for my client to accept a lower salary.
Above all, there's one thing to know about this so-called negotiation between the Broncos and Dumervil - if the team were seeking a mild pay cut, it likely would have taken place entirely behind the scenes, and we'd only have heard about it after the fact.
Instead, it's playing out very publicly, which tells us that Denver is seeking a serious pay cut. Mike Klis has made a point of characterizing the Broncos as desiring a salary reduction rather than an improvement in their cap situation, and that comes straight from Dove Valley.
The substantial conversations have likely already taken place, and the two sides figure to be just posturing at this point.
Dumervil will be sent packing, the team will say they made him a reasonable offer, and Magid gets to say he negotiated in good faith, but that the Broncos were asking too much of a 29-year old who will likely command upwards of $20M in guarantees as a free agent.
The many fans who are all too happy to accept a 50% pay cut on Elvis's behalf will continue to smear Doom, and suggest he's selfish, and less interested in winning than they are. Of course, this ignores the point that Denver isn't the only place where Elvis Dumervil can reasonably expect to have a good shot at earning a ring in 2013.