2:53pm: The deal is worth $8.4MM over three years, per Renck.
2:19pm: The Broncos have officially announced their new deal with Green. It’s a three-year pact, according to the team.
2:13pm: He didn’t catch double-digit touchdowns last season, and he wasn’t on anyone’s list of top free agents for this offseason, but tight end Virgil Green will be returning to the Broncos, tweets Jeff Legwold of ESPN.com. Green, like Julius Thomas, had been eligible to become an unrestricted free agent this week.
Green, 26, actually ranked just ahead of Thomas on Pro Football Focus’ overall tight end rankings in 2014, in large part due to his excellent run blocking (subscription required). Green isn’t much of a pass-catching threat – his six catches in 2014 brought his career total up to just 23 – so the Broncos figure to pair him with someone who can be involved in the aerial attack. Owen Daniels, who is very comfortable with Gary Kubiak and Rick Dennison, looks like the favorite for that role. The team is reportedly set to host Daniels for a visit on Wednesday.
While a Saturday report indicated Green had six to eight “serious” suitors, his decision appeared to come down to the Broncos and Bears. As Legwold notes, Green informed the Bears today that he intended to remain in Denver.
Troy Renck of the Denver Post reported earlier today that the Broncos were the frontrunners for Green.