Elway On Thomas Deal: 'Demaryius Was The Target For Us'
DENVER (CBS4) - The Denver Broncos and star wide receiver Demaryius Thomas have agreed on a contract extension ahead of the franchise tag contract negotiation deadline.
CBS4's Vic Lombardi confirmed the agreement, which still needs to be signed. It's a five-year deal worth $70 million, with $43.5 guaranteed, according to ESPN's Adam Schefter.
The franchise tag contract negotiation deadline was at 2 p.m. on Wednesday.
Thomas' strategy to skip the team's offseason program while angling for a long-term contract had disappointed Broncos general manager John Elway. The Broncos had placed their franchise tag on Thomas, guaranteeing him $12.8 million in 2015 -- which is about the same amount as he's made in his first five NFL seasons combined. But Thomas wanted a long-term deal and the Broncos anted-up on Wednesday.
PHOTO GALLERY: Demaryius Thomas Through The Years
Lombardi said he wasn't surprised the deal got done.
"I think the deadline sort of gets people all riled up and hyped up because that deadline approaches and nothing happens and people are freaking out," Lombardi said. "But really the deadline is there to serve the player because that's the only thing he has; the only recourse a player has is to threaten not to play, to sit out of training camp."
"We are thrilled to reach a long-term contract agreement with Demaryius Thomas," Elway said in a statement. "He has developed into one of the top wide receivers in the NFL, and making sure he remained a Denver Bronco was a significant priority for our team.
"Demaryius is a special talent and an elite player who has also become a team leader during his five NFL seasons. We are very much looking forward to him playing a major role in the success of the Broncos well into the future."
In April Thomas told The Associated Press he didn't think his staying away from the offseason program would hamper his timing with quarterback Peyton Manning. He suggested their three years together gives him confidence "we can pick up where we left off."
In 2014, Thomas set career highs with 111 catches for 1,619 yards. He had 11 touchdowns. Thomas has been Manning's top receiver with 297 receptions for 4,483 yards and 35 TDs since Manning arrived in 2012.
"In the end the Broncos did give a little more. I know the original offer was somewhere just north of $40 million guaranteed," Lombardi said. "Everybody is happy. Demaryius is a Bronco for five more years, the Broncos got their marquee receiver, I'm sure Peyton Manning is smiling today, so it all worked out."
Thomas is the longest-tenured offensive player on the team's active roster.
"I'm sure that Demaryius is happy with the security of knowing that he's got a five-year deal, of knowing that he is a Bronco, he doesn't have to move anywhere; and the Broncos are happy knowing they've got a guy who is going occupy a double team for most of the time he's on the field," Lombardi said.
Elway said he has yet to talk to Manning about the signing.
"I have not talked to Peyton. Demaryius was the target for us this year and we were able to get that done. If you look at what he has done the past three years and really what he has done since he has been in Denver, you will see he has been a tremendous player for us," Elway said.
The Dallas Cowboys were in similar contract negotiations with wide receiver Dez Bryant, who also signed a long-term deal for five years worth $70 million on Wednesday ahead of the franchise tag contract negotiation deadline.
Elway said Bryant's contract didn't influence the Broncos in negotiating with Thomas.
"We had our numbers set up and picked out. We tried to figure out what we believed was the correct value for us and for the Broncos as well as Demaryius. I think it just took a while to get to that point," Elway said. "Any time you have two special football players at the same position that are going into a franchise year, there is always caution that no one jumps the gun. I think it went as long as it went to be able to make sure that everybody—especially from the agent side—that they were where they needed to be."
- By Matthew J. Buettner, CBSDenver.com
