2:09pm: Talks between Miller and the Broncos are still ongoing and have not broken off, a team source tells James Palmer of NFL Network (on Twitter).
1:42pm: Earlier today, we learned that Von Miller turned down a proposed a six-year, $114.5MM deal with $39.8MM guaranteed in the first two years. Now that Miller has said no to that pact, the Broncos have effectively pulled that proposal from the table, according to Mike Klis of 9NEWS. The Broncos set a deadline of 10 p.m. Tuesday to reach an agreement on a long-term contract with Miller, and it remains to be seen whether those discussions will be reopened this offseason.
Miller, who was the MVP of Denver’s Super Bowl 50 win in February, is slated to play out the 2016 campaign on the $14.129MM exclusive franchise tag. The two sides recently “reached a partial agreement” on the years and total value of Miller’s proposed contract, but the two sides disagreed when it came to contract structure. The total value of that deal would have edged out Ndamukong Suh, but it appears that Miller’s reps wanted more guaranteed money inside of the deal’s first three seasons.
Klis writes that Miller’s reps pushed both Suh’s contract and Olivier Vernon‘s deal as comps. Vernon inked a $17MM/year deal with the Giants this offseason and also received $29MM in year one cash. Miller has posted 25 sacks over the past two seasons compared to Vernon’s 14. In total, Miller has posted four double-figure sack seasons while Vernon has accomplished that only once (2013, 11.5 sacks).
Klis notes that it’s not a given that Miller will play out this season under the franchise tag, though I would certainly expect him to. In theory, if Miller were to sit out the 2016 season, it would prevent the Broncos from again applying the “exclusive” franchise tag next year.
Photo courtesy of USA Today Sports Images.