Broncos circumvented cap from 1996-98
NEW YORK -- The Denver Broncos have been fined $950,000 and will lose their third-round pick in next year's NFL draft for circumventing the salary cap between 1996-98.
The penalties were levied Thursday following an agreement involving the league, its union and the team.
The violations included agreements between the team and several players to defer salary payments with interest and an agreement not to waive a player before a certain date. Both raised issues with accounting for the salary cap.
In addition to the penalties against the team, the NFL said an agent for a former player agreed to donate $100,000 to charity. Neither the agent nor the player was identified.
Copyright 2004 by The Associated Press
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