Colquitt knew he'd likely be asked to take another pay-cut to stick around, which he did in 2015, but he wasn't as amenable to the idea of doing it again.
Dixon and Colquitt have been even in their respective preseason performances. The margin between the two has been quite slim.
And knowing that they could save $3.25 million on the salary cap by releasing him, the Broncos have done just that.
According to 9NEWS' Mike Klis, the release of Colquitt wasn't only about refusing to take a pay-cut. The Broncos offered Colquitt a three-year extension, but the proposal reportedly offered no guaranteed money and would have placed him at the bottom of the league on an average annual value.
Colquitt, a seven-year veteran, believed he was worth more and could do better. The Broncos showed him the door.
The move frees up salary cap space but puts the onus on Riley Dixon in a big way. Colquitt might have been overpaid, but he was one of the league's most consistent punters and could be counted on as a place-holder.
GM John Elway finally moves past what many, including myself, have considered to be his most mystifying contract—Colquitt's three-year, $11.677 million extension signed in 2013.
However, Colquitt's seven years in Denver were replete with a lot of team success, as well as personal achievement. He was a part of five consecutive division titles, two AFC titles and a Super Bowl victory.
Happy trails, Britton.
Chad Jensen is the Publisher of Mile High Huddle. You can find him on Twitter @ChadNJensen.
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