The Facts: According to Mike Klis of the Denver Post, Simms has been released.

Diehards Line:With Brady Quinn now under contract at a base salary of only $700,000, the Broncos were able to part ways with Simms, who was last season's primary backup. Simms was due to earn a base salary of $2.54 million in 2010. Last year, he earned $1.96 million. The move leaves the Broncos with three QBs under contract: Kyle Orton, Quinn, and Tom Brandstater. ... For what it's worth, ESPN insider Adam Schefter suggests that Brandstater might be the best long-term prospect of the group.