ESPN: Broncos Have $8.4M in Cap Space

(Ball's Retro rookie card.)

It is unclear if their numbers include the one-year, $1 million deal that pass rusher Shaun Phillips signed with the team last week, but ESPN.com is reporting that the Denver Broncos currently have $8.4 million in cap space.

That leaves the team with plenty of room to sign their seven drafted rookies and still have roughly $3-4 million remaining going into the summer.  That extra cash may be used on a free agent or two, as wide receiver Brandon Stokley and defensive end Dwight Freeney remain two veteran options for the team.

On a different note, quarterback Peyton Manning made an appearance at a Children's Hospital Gala over the weekend and sang "Prison Blues" on-stage with Luke Bryan (video here).  The event raised over $1 million for the children's hospital.

Denver's rookies will report to Dove Valley next Friday for rookie minicamp on May 10.  The team's training camp schedule is expected to be announced in July.