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Published 13:17 23 Feb 2016 GMT
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The salary cap in MLS means only a handful of 'Designated Players' are able to earn big money.
Among last season's top earners were former Premier League players Steven Gerrard ($6.2m), Frank Lampard ($6m) and - surprisingly - Jozy Altidore ($4.75m).
The Rapids have just received allocation money after trading last season's first-choice goalkeeper Clint Irwin to Toronto FC, and are left with two relatively unproven replacements in Zac MacMath and John Berner.
Howard has lost his place at Everton to Joel Robles, and is reportedly keen for the MLS club, which finished bottom of the Western Conference last season, to match the money he is earning on Merseyside.
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