ENGLEWOOD, Colo. >> Mark Sanchez, Denver’s biggest offseason acquisition, didn’t make the roster, saving the Broncos $3.5 million and a seventh-round draft pick.

General manager John Elway’s entire eight-man draft class made the 53-man cutdown, a remarkable achievement for a Super Bowl champion. Also, undrafted rookie nose tackle Kyle Peko made it.

Elway acquired Sanchez from the Philadelphia Eagles after Peyton Manning retired in March and Brock Osweiler bolted to Houston in free agency two days later. Sanchez, however, was beaten out by second-year pro Trevor Siemian, a seventh-round pick in 2015 from Northwestern.

The backup is rookie Paxton Lynch, a first-round pick who will get plenty of work at practice as he continues adjusting from the spread offense he operated at Memphis to coach Gary Kubiak’s West Coast offense.

The Broncos open the season Thursday night against the Carolina Panthers, whom they beat in Super Bowl 50.

Other veterans who failed to make the team were running backs Ronnie Hillman, a four-year pro, and Juwan Thompson, a two-year pro, and defensive lineman Henry Milton.

Safety Shiloh Keo was placed on the suspended list. He’ll miss the first two games because of a drunken driving arrest in the offseason.

Hillman was the Broncos’ leading rusher last year but played sparingly in the Super Bowl and his lack of special teams play cost him. Thompson played fullback, tailback and special teams but that didn’t help him stick around.