Well, it finally happened right at the deadline, just as we expected. Von Miller and the Denver Broncos have come to an agreement on a six-year deal.
I'm told the #Broncos and Von Miller have agreed to terms on a six-year contract. Awesome outcome for the reigning Super Bowl MVP.
— Rand Getlin (@RandGetlin) July 15, 2016
Miller appeared to confirm the deal via his Twitter account.
FOR LIFE pic.twitter.com/ayvzpJ1WZh
— Von Miller (@VonMiller) July 15, 2016
The contract is reportedly worth $114.5 million and includes more guaranteed cash than any defender in NFL history. Miller is reportedly set to receive $70 million by March of 2018.
Happy to announce we've agreed to terms with the @Broncos to make @Millerlite40 the highest paid defensive player in the history of the NFL
— Vanguard Sports Group (@VanguardSG) July 15, 2016
Really, this was a no-brainer.
Miller had made it clear on a number of occasions, dating back to the middle of June, that he would not play the 2016 season on the franchise tag.
He clarified his statement in July, saying the NFL’s franchise tag policy needed to change and that he was in a position to facilitate such a change if he did not land his desired deal before the July 15 deadline. And despite what many have seen as Miller being greedy, he insists this is not the case.
“I’ve never really played for money,” Miller said on ESPN, via Pro Football Talk. “It’s bigger than that for me. It’s a league-wide problem that I feel like I’m in a situation to help out with.”
The Broncos had previously offered significantly less on this front (details here), which rankled the pass rusher, who saw himself as more valuable than the likes of Fletcher Cox and Olivier Vernon, who both raked in big-money deals this offseason that included more guaranteed money than the deal Denver previously had on the table.
There is no question about Miller’s value matching this contract, based on the current market. In his first five years he has racked up 60 sacks, despite missing missing seven games due to suspension in 2013. Furthermore, there can be no doubt the Broncos won Super Bowl 50 because of his ability to dominate on the edge, as his Super Bowl MVP trophy clearly indicates.
Time will tell if this new contract will be beneficial to the Broncos or not. Miller is essentially making just below top quarterback money, and Denver is one of the most cap-strapped teams in the NFL.