There are draft capital and salary cap incentives for the Denver Broncos to cut Mark Sanchez, who appears to be slipping in the team’s three-way quarterback battle.

According to Adam Schefter of ESPN, the Broncos traded nothing more than a “conditional” draft pick to the Philadelphia Eagles for Sanchez back in March. If Sanchez doesn’t make Denver’s roster coming out of training camp, the Broncos won’t have to send the draft pick—believed to be a seventh-rounder in 2017—to Philadelphia.

The Broncos could also save millions by parting ways. The final year of Sanchez’s two-year, $9 million deal includes a $4.5 million base salary. Accounting for his $1 million pro rated signing bonus for 2016, a total of $3.5 million could be wiped from Denver’s books by cutting Sanchez.

It’s still far from a certainty that the Broncos will go a different direction at quarterback. But Sanchez, who has one interception and two lost fumbles in two preseason games, is no longer a roster guarantee, especially after head coach Gary Kubiak announced Trevor Siemian will start at quarterback during the Broncos’ third preseason game this week.

If Siemian locks down the starting job and first-round rookie Paxton Lynch continues to show flashes of his immense potential, the Broncos might find Sanchez to be too expensive of a third-string quarterback.

There are many factors at play in Denver’s quarterback battle. However, Sanchez’s recent slip down the depth chart could represent a death blow to his roster chances, especially with the incentives to save a draft pick and a good chunk of cap space working against him.