The Denver Broncos have traded Ryan Clady to the New York Jets for peanuts, clearing up nearly $10 million in cap space in the process. That's according to Adam Schefter, and several other NFL reporters.
Denver has agreed to trade four-time Pro-Bowl OT Ryan Clady and a 7th-round pick to the Jets for a 5th-round pick, league sources told ESPN.— Adam Schefter (@AdamSchefter) April 9, 2016
The move potentially creates cap space for the Broncos to trade for Colin Kaepernick. The 49ers and Broncos have reportedly already agreed to terms, but Denver needed Kaepernick to take a pay cut, which he wouldn't do. That may not be necessary now.
NFL trade values are confusing. Clady has an expensive contract, but $10 million this season isn't some insurmountable sum. He's also just 29. The main reason his value dropped is likely the torn ACL he suffered in May of last year, but that shouldn't be a problem for this season. You would think that a top-tier left tackle would be worth more than a trade up near the end of the draft, but then apparently no one was willing to give up more than that for Clady.