ENGLEWOOD, Colo. (AP) Two years after becoming the league's highest-paid punter, Britton Colquitt has increased his chances of making the Denver Broncos' roster by agreeing to a $1.4 million pay cut.

Colquitt now will make $1.6 million this season after Monday's agreement. His 2016 salary of $3.25 million remains untouched.

Colquitt signed a three-year, $11.7 million extension in 2013, but his production slipped last year. In the offseason, the Broncos brought in kicker/punter Karl Schmitz, a strong-legged 28-year-old from Jacksonville University who hasn't played since 2008.

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Colquitt is the second Broncos veteran to take a pay cut this year. Peyton Manning agreed to a $4 million reduction in his salary, to $15 million. He can earn that back if the Broncos win the Super Bowl.

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