ENGLEWOOD, Colo. -- There are times when John Elway the football executive looks every bit like the go-for-it, take-the-risk-to-get-the-reward guy he was as a Hall of Fame quarterback.

And Friday, when the Denver Broncos released their Pro Bowl kicker, Matt Prater, was one of those times. Prater, who had served three games of a four-game suspension for violating the league’s substance-abuse policy, was poised to be reinstated on Monday.

But Elway looked at the team’s salary-cap situation, the Broncos' long list of impending free agents, Prater's off-the-field trouble and the performance of Brandon McManus and made the call. The Broncos released a proven late-game performer at a position where late-game performers can decide the biggest games.

"I think part of it is evaluating Brandon," Broncos coach John Fox said following Friday's practice. "… But you take the leap of faith and a lot of personnel decisions. It's no different than any one we've made up to this point in our tenure."

It is a leap of faith for a team that considers itself in the Super Bowl conversation. Prater was a proven player, a guy who made 25 of 26 field goal attempts in the Broncos' 13-3 finish in 2013 and had made 51 of his career 54 attempts in the fourth quarter or overtime.

But Elway is a financial conservative, at least -- for the most part -- when it comes to the salary cap, yet he's a football daredevil as well. Elways doesn't like the Broncos dancing on the salary cap's edge, has consistently talked of keeping the roster stocked with youth and athleticism and that "I like to have the room to deal with all of the things that come along and keep us competitive over the long haul. I see a big part of my job as making sure we're two and three steps ahead in what we do."

But Elway is also the guy who, after signing a still-recovering Peyton Manning, said, "There is no Plan B."

The Broncos' actions show Friday's move has been in at least the back of their collective mind for some time. They didn't just sign any kicker to deal with Prater's suspension. No, they traded a conditional draft pick to the New York Giants in August to acquire McManus.

Given that McManus is now on the Broncos' roster in Week 5 of the season, the conditions of the pick kick in, and the Giants will now get a seventh-rounder from the Broncos in the 2015 draft.

For his part, McManus, at least given he hasn't yet faced a late-game situation with a win or a loss in the balance in the regular season or playoffs, believes he has essentially kicked with his job on the line with the Colts, Giants and Broncos over the past two seasons. It has prepared him for kicks when the clock nears 0:00.

"Going into the preseason the past two years, I wanted go in and compete and earn that job, so I knew I couldn’t miss any kicks," McManus said. "So I have full confidence with myself with the game on the line."

There is no question -- physically, McManus fits the job profile. His right leg is nuclear, and he has consistently made 59-yard field goals in warm-ups. Several Broncos players, including punter/holder Britton Colquitt, said Friday that McManus has had many days when he hasn't missed in practice. But practice is practice and a far different endeavor than kicking into the wind/rain/snow/knee-buckling pressure for a regular-season win, a playoff spot or title on the line.

Privately, the Broncos believed Prater was not at his best in training camp with the suspension hanging over him. Given that, as well as the fact he is subject to increased testing in the league's substance-abuse policy because of the suspension and a 2011 DUI charge that could result in an indefinite suspension with another positive test, the Broncos have taken a chance.

There is also the matter of money, as is always the case in any football decision or otherwise. Prater's cap figure was originally $3.107 million for this season, but the Broncos will save $2.294 million off the cap this year and $3.25 million off their 2015 salary cap.

The list of impending free agents for the Broncos is also a who's who on the depth chart. Wide receiver Demaryius Thomas, tight end Julius Thomas, wide receiver Wes Welker, defensive tackle Terrance Knighton, tackle Orlando Franklin and safety Rahim Moore are just some of the players poised for the open market following whatever becomes of the season.

Colquitt said McManus has "big shoes to fill," but just as the Broncos once didn't really know what they had in Prater -- who had been cut by three different teams before he was signed by the Broncos in 2007 -- the Broncos hope they have again made the right call on an unproven kicker with potential.