The Denver Broncos placed the non-exclusive franchise tag designation on Pro Bowl wide receiver Demaryius Thomas on Monday, ensuring he’ll be under contract with the team for $12.8 million this season on a one-year, fully guaranteed contract.
Thomas has been the Broncos’ best wide receiver the last three seasons, and has proven himself a top five player at the position in the game. The Broncos recognize that, and want to make sure he’s in a Broncos uniform for a really long time. That said, there is the option that another team could sign Thomas, and the Broncos would get two first round picks as compensation, but that’s not what John Elway is thinking about right now.
“This is another step in our efforts to extend Demaryius’ contract and ensure he remains a Denver Bronco.” - @johnelway
— Denver Broncos (@Broncos) March 2, 2015
“We will continue working toward a long-term agreement with @DemaryiusT, who is a very important part of our team.” - @johnelway
— Denver Broncos (@Broncos) March 2, 2015
Elway and the Broncos have tough decisions to make by the July 15th deadline, but those words from the man himself seem to indicate the Broncos’ plans to keep Demaryius Thomas part of the franchise for a long time — and for a lot of money.
The Broncos have gotten a lot of great information on Monday about how they are going to be set up for free agency, which has a soft opening this weekend. They learned that the salary cap was increased to just over $143 million and that their rollover from last year was just under $6 million, so the Broncos’ cap is going to be right around $150 million.
They also learned that Thomas’s tag number would be right around $12.8 million, so they can really start attacking their game plan for making the team better this weekend and into next week, as well as the coming months.
It’s an exciting time for the Broncos after all the doom and gloom reported about impending in-house free agents.