Stephenson agreed to a pay cut from $4 million to $2.5 million in exchange for an additional $500,000 guaranteed, according to Klis. He can make back the $1.5 million based on performance bonuses.
Interestingly enough, Klis says that a trade involving Stephenson is still a possibility, but it’s not considered likely.
There had been some recent speculation that Stephenson could be a roster cut, given that he’s in line to be a reserve offensive lineman. However, it appears as though the Broncos wanted to ensure their offensive line depth and were able to work out a deal with Stephenson.
This is actually the second time that Stephenson has reworked his contract in the past six months.
Stephenson, 28, is a former third-round pick of the Chiefs back in 2012. He spent four years in Kansas City before he signed a three-year, $14 million contract that included $10 million guaranteed with the Broncos back in March of last year.
Stephenson was set to make base salaries of $4 million over the final two years of the agreement.
In 2016, Stephenson appeared in 13 games for the Broncos and was rated by Pro Football Focus as the No. 77 offensive tackle out of 78 qualifying players.