Broncos Sign Von Miller To Six-Year, $114M Extension With $70M Fully Gtd

Update:

Mike Klis of 9News has the full breakdown of Von Miller’s new six-year, $114 million deal with the Broncos.

Here’s how the contract breaks down by year, according to Klis:

• 2016: $23 million signing bonus, $2 million in salary and workout bonus, other bonuses for a total of $25 million fully guaranteed.
• 2017: $17 million in salary and bonuses. Miller will make $42 million in total after the first two years of the contract.
• 2018: $19 million in salary and bonuses. There is an injury-only guarantee that will convert to fully guaranteed money by March 17, This brings Miller’s total payout over three years to $61 million.
• 2019: $17.5 million in salary and bonuses. There’s also an injury-only guarantee, but $9 million of this will convert to full guarantees in March of 2018). The four-year take home for Miller is $78.5 million after four years with $70 million guaranteed.
• 2020 – 2021: Miller will average $18 million per year in salary and bonuses, but has no guarantees during this time.

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Von Miller has already confirmed the news via his Twitter account.

FOR LIFE pic.twitter.com/ayvzpJ1WZh

— Von Miller (@VonMiller) July 15, 2016

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Rand Getlin of NFL Media reports that the Broncos and OLB Von Miller have officially reached an agreement on a six-year, $114 million contract extension.

• Ian Rapoport reported earlier that the deal is expected to include $70 million fully guaranteed by March of 2018.
• Assuming this contract is finalized, Miller stands to make over $19 million per year.

The six-year, $114 million structure has been in place for some time now, but Miller wanted more in terms of fully guaranteed money and a better structure to the deal.

The expectation since the Broncos recently improved the amount of guarantees in their offer has been that the two sides will be able to get the details hammered out before today’s deadline to negotiate with franchise players.

Miller, 27, is a former first-round pick of the Broncos back in 2011. After playing out his rookie deal, Denver picked up his fifth-year option and later used their franchise tag on Miller this offseason. He was in line to make $15.701 million fully guaranteed for the 2016 season under the franchise tag.

In 2015, Miller appeared all 16 games and recorded 35 tackles, 11 sacks, three fumble recoveries and four forced fumbles. Pro Football Focus has him rated as the No. 2 outside linebacker in a 3-4 defense out of 53 qualifying players.