For the most part, the Broncos are finished with phase one of free agency.

Getting a newly restructured/reduced contract with pass-rushing defensive end Elvis Dumervil is their final piece of business before owner Pat Bowlen, president Joe Ellis, front-office boss John Elway and coach John Fox take off Sunday for the NFL owners meetings in Scottsdale, Ariz.

Otherwise, the Broncos as they stand now are pretty much tapped out of salary-cap room, according to two NFL sources. They are roughly $50,000 to $52,000 below league-imposed $123 million payroll limit.

This is not a surprise given their furious attack on the open market through the first two days.

Add in the re-signings of special-teams standout David Bruton and starting defensive tackle Kevin Vickerson, plus the franchise tag placed on starting left tackle Ryan Clady, and the Broncos have made $63.5 million worth of financial commitments to eight free-agent players.

Those eight players will be paid a collective $30 million this year.

The Broncos are likely to use the draft to select a running back, probably within the first three rounds. Maybe even in the first round.

They wanted to add a safety to compete with Rahim Moore, Mike Adams and Quinton Carter. Maybe later.

They will have to pick up a No. 3 and No. 4 quarterback by training camp. This team is solid at the first two spots with Peyton Manning, who will turn 37 in 10 days, and Brock Osweiler, who is barely 22.

Otherwise, the Broncos want to make sure they are not left with a gaping hole opposite Von Miller at right end. Dumervil is scheduled to make $12 million this year, after he made $14 million in each of the past two years.

The Broncos want him to take a pay cut to a salary more in line with the adjusted pass-rusher market. Paul Kruger's new deal averaged $8 million a year. He has only 15 ½ sacks in his career. Dumervil had 17 in 2009 alone.

Yet, Cliff Avril had 20 ½ sacks the past two seasons, the number Dumervil has had. He got $7.5 million a year. There is a case that can be argued for both sides.

The Broncos are willing to add back some of their proposed reduction in the form of guaranteed dollars in the later years of Dumervil's contract. His current deal calls for an non-guaranteed $10 million in 2014 and $8 million in 2015.

In some ways, the Broncos and Dumervil's agent Marty Magid are not far apart. In other ways, they are not close. The Broncos have a backup plan if they can't work out a deal with Dumervil by Friday, the day before his $12 million salary would become fully guaranteed. Dwight Freeney is one possibility, but there are other defensive-end candidates the Broncos would consider.

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