The second reason is a flooded market. Simmons is not the only big-name safety to get cut for cap reasons this week. Jordan Poyer, Jamal Adams, Kevin Byard, Quandre Diggs, Rayshawn Jenkins and Eddie Jackson were also let go by their respective teams, and several notable safeties are set to become free agents next week as well.
Consequently, there was likely no trade market for Simmons. He’s a talented safety, but no team would be willing to give up a draft pick for a 30-year-old safety that costs $14.5 million when there are dozens of talented, younger, cheaper safeties available.
Now that he’s a free agent, Simmons should draw interest from teams that don’t have to give up a draft pick to acquire him. But trading the safety was probably never a realistic option for the Broncos.