It was a significant pay cut
By agreeing to restructure his contract, Elway saved the team $3.1 million against the salary cap for this season and provided the room to sign Smith. As a result Elway's base salary this year will be less than $600,000, making him one of the league's lowest-paid starting quarterbacks. "That guy always bails out this team," says defensive end Dan Williams. "He'd do anything to help this team win." Smith will do his part too. His six-sack total last season was his lowest since 1988, his rookie year, but would have ranked second on the '96 Broncos. "Not only will he be helping us," Elway points out, "but now we don't have to face him twice a year either."
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