Denver • Coach Josh McDaniels and general manager Brian Xanders admitted their own mistakes Saturday in making final cuts to the Broncos' roster. Now, if the Broncos' football operation bosses can do something about their initial player evaluation process.

McDaniels and Xanders set the 53-man roster while dumping an armored truck worth of dead money in their wake.

Among the more notable player moves were the release of defensive end Jarvis Green, who will collect $3.255 million without ever stepping on the field for the Broncos, and Marquez Branson, who had been the team's top receiving tight end through the offseason and preseason.

Popular and productive receiver Brandon Stokley was placed on injured reserve until a settlement terminates his contract, which has already paid him $600,000 in bonuses this year.

"It's hard to make it as a backup slot receiver," Stokley said. "I think that was the main thing. And one that doesn't play special teams. So I think all that added up to me being released."

The team also released backup linebacker and special-teams standout Darrell Reid, whose offseason knee surgery made him a candidate for the physically unable to perform (PUP) list, and guard Seth Olsen, a fourth-round pick in 2009.

And then there was the most startling admission of all, that giving up a future first-round draft pick (which turned out to be Seattle safety Earl Thomas at No. 14 overall this year) for cornerback Alphonso Smith a year ago was an unfortunate error in judgment.

Smith, who received a $2.15 million signing bonus as the No. 37 overall selection in the 2009 draft, was traded to Detroit in exchange for Dan Gronkowski, a seventh-round pick in the same draft who will replace the disappointing Branson as the Broncos' new receiving tight end.

The teams also traded undisclosed draft picks.

The one-day total of wasted money: $6.01 million on Green, Smith and Stokley.

"It's a what-have-you-done-for-me-lately business," Stokley said. "You have to prove yourself every year. Different circumstances happen, and sometimes what happens is out of your control."

Then again, the Broncos saved $1.74 million by cutting Reid and the bulk of the $1.4 million salary owed to Stokley, who missed the final three preseason games with a groin injury.

Not that money was anything more than an afterthought when it came time to setting the roster. McDaniels and Xanders sent the message that performance, not financial considerations, wins roster spots.

Just ask Green. The former New England Patriot was one of the Broncos' "big three" free-agent defensive linemen signed in March. Justin Bannan and Jamal Williams were the others.

Green was given a four-year, $11.76 million contract, of which his $2.5 million signing bonus and $755,000 salary for this year were guaranteed. But by the team's mandatory minicamp in June, Ryan McBean had reclaimed his starting job at right defensive end.

The Broncos will be cleared of paying the $755,000 salary if Green signs elsewhere.