Report: Broncos will franchise tag Demaryius Thomas

The Denver Broncos are expected to use the franchise tag on Demaryius Thomas.

According to Mike Klis of The Denver Post, the Broncos will use the nonexlusive franchise tag on Thomas on Monday. That means he will be free to negotiate a long-term contract with other NFL teams, though the Broncos would be given a chance to match any offer he received. And if another team did sign Thomas, that team would need to give Denver two first-round draft picks.

The franchise tag for wide receivers is expected to be somewhere in the $13 million range next season.

If the Broncos wanted to, they could use the exclusive franchise tag on Thomas and prohibit him from negotiating with other teams. However, this way they can get a better idea of what the market will be for the three-time Pro Bowler. Although, it’s fairly obvious he would be paid like one of the best wide receivers in the league.

Thomas, 27, has racked up more than 1,400 receiving yards and 10-plus touchdown catches in each of his last three seasons. He would have until the July 15 deadline to sign the franchise designation tag and could skip much of Denver’s offseason workout program without penalty.

Klis reports that the Broncos’ last offer to Thomas had an average annual value of $13 million and would have made him the third-highest paid receiver in the league. He is said to be seeking a deal worth upwards of $15 million annually.

Thomas will likely be one of at least two franchise wide receivers that are given the tag. The Dallas Cowboys are expected to do the same with Dez Bryant, despite the crazy rumors that have surrounded him this offseason.