1. CB Damarri Mathis: He's talented enough to serve as a No. 5 cornerback, but the Broncos are packed at cornerback and the team would save $3.4 million if Mathis is cut. Trading him for a late-round pick could be a best-case scenario.

The Denver Broncos kicked off their initial roster cuts on Sunday by parting ways with five players: outside linebacker Andrew Farmer, undrafted wide receiver Joaquin Davis, cornerback Micah Abraham, UDFA defensive back Joshua Pickett and UDFA offensive lineman Clay Webb.

The Broncos announced their first seven transactions on Monday, waiving defensive back Micah Abraham, wide receiver Joaquin Davis, defensive tackle Michael Dwumfour, outside linebacker Andrew Farmer, tackle/guard Xavier Truss, guard Clay Webb and cornerback Joshua Pickett (with an injury settlement).