Denver Broncos release veteran safety Justin Simmons

The Denver Broncos announced on Thursday morning that they have parted ways with veteran safety Justin Simmons. Simmons played for the Broncos for eight seasons and was the longest tenured Bronco.

The Broncos released a statement praising the 30-year-old All-Pro for his performance on and off the field and his "outstanding manner" he displayed as a representative for the organization.

"In addition to growing into an All-Pro and team captain, Justin became our perennial Walter Payton NFL Man of the Year devoted to uplifting others and using his influence for positive change. Whether it was in Denver or his hometown of Stuart, Florida, Justin inspired and mentored countless youth while providing unwavering support to the community. The hundreds of hours he spent at the Denver Broncos Boys & Girls Club will be as much a part of Justin's legacy with the Broncos as his leadership, dependability and many interceptions," the team wrote.

As a Bronco, Simmons was a four-time Associated Press second-team All-Pro and made the Pro Bowl twice.

CBS Sports writer Jared Dubin said Simmons "should be highly sought after" on the free agent market.

"Especially given that due to his release, he will not count against the compensatory pick formula for any team that signs him," Dubin wrote.

Dubin said the team will save $14.5 million in salary cap space by cutting Simmons.