According to Charles Robinson of Yahoo Sports, Von Miller rejected the Broncos six-year, $114.5 million offer in recent days. However, sources have told Robinson that Miller accepted the length of the contract and the total money.
Previous reports had said that Miller was targeting as much as $22 million per year, so the fact that he was willing to take less ($19 million or so per year) was viewed as a concession on his part.
Robinson mentions that the problem is related to the guaranteed money included in the contract, and it’s now a possibility that Miller could sit out the entire 2016 season.
The Broncos’ $114.5 million is essentially a two-year, $38.5 million deal that’s guaranteed with another $1.3 million available in a workout bonus.
When you compare the $38.5 million guaranteed to the $60 million guaranteed DT Ndamukong Suh got from the Dolphins, you can see why talks are now at an impasse. In fact, the Giants gave DE Olivier Vernon $52.5 million guaranteed.
Mike Klis mentioned earlier that Miller may actually be better off sitting out the 2016 season than playing under the tag from a financial perspective.
If Miller were to play under the franchise tag, the Broncos could place “exclusive” tag on him again next year. However, if Miller holds outs, it would prevent Denver from using the “exclusive” tag on him in 2017.
This means that compensation for losing Miller to another team would be reduced from two first-round picks to first- and third-round picks.
Instead, the Broncos are reassessing their options after their self imposed deadline passed with an agreement. Denver set the deadline because they were hoping to have Miller in attendance for the start of minicamp.
A source tells Renck that talks haven’t broken off and they’re “just on pause” right now. One clear hurdle remaining is the amount of guaranteed money included in the first three years of the contract.
Klis mentions that the Broncos had set a deadline of 10 p.m. Tuesday to reach an agreement on a long-term contract with Miller, but it appears as though Miller could play out the 2016 season under the franchise tag.
The sides reportedly reached a “partial agreement” in recent days on the years and total value of a potential deal – six years, over $143.375 million. However, Klis says there were “significant differences” in how the deal was structured with a key component being the guaranteed money included in the first three years the deal.
As of now, it’s unclear what Miller’s plans are, but Klis writes that it’s possible he could sit out the season in an attempt to prevent the Broncos from using the exclusive franchise tag on him next year.
Adam Schefter reports that the Broncos have offered franchise OLB Von Miller a six-year, $114.5 million with $39.8 million guaranteed over the first two years. However, even with this huge offer, Schefter says that there’s still no deal in sight.
- Schefter adds that it will be “very difficult” for the Broncos to get a deal in place with Miller before the July 15 deadline to negotiate with franchise players.
This comes just a few days after Charles Robinson of Yahoo Sports spoke with two GMs who said that they expect Miller to either match or exceed the six-year, $114.375 million contract signed by Dolphins DT Ndamukong Suh.
A few months ago, sources told Robinson that Miller had his sights set on as much as $22 million per year. However, Robinson now believes he could agree to a deal closer to what the Dolphins are paying Suh.
While the Broncos have been in a tough cap situation this year, Robinson mentions that they have much more cap room to work with in 2017. According to Robinson, the Broncos are so flexible that they could elect to front-load Miller’s massive deal to give them room to work with in the coming years.
Another factor that helps the Broncos is that instead of taking on Colin Kaepernick‘s contract in a trade or signing Brock Osweiler to a market-value contract, Denver used their first-round pick on Paxton Lynch, who has a much more affordable salary. Robinson mentions that this is likely the reason why the Broncos are willing to discuss a contract in the neighborhood of Suh’s deal.
On Monday, Miller said there has been “a lot of progress” in contract talks over the last couple days, per Mike Klis.
“I’m very optimistic about the whole thing,” Miller told reporters. “I remain optimistic about everything.”
Even Broncos HC Gary Kubiak confirmed that progress has been made in recent days, per James Palmer. Kubiak added that he would love to see Miller at minicamp on Tuesday, but understands the situation.
The two sides have until July to negotiate a long-term or Miller will end up playing out the year under the franchise tag and be in position to test the free agent market again in 2017.
Miller, 26, 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’s now in line to make $15.701 million fully guaranteed for the 2016 season. However, this won’t prevent them from negotiating a long-term deal that would reduce this figure and offer them some additional cap space.
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.
We’ll have more regarding a long-term contract for Miller as the news is available.