Report: Von Miller turned down $58 million guaranteed for injury in first three years

Denver Broncos linebacker Von Miller recently passed up a six-year, $114.5 million offer that reportedly had a two-year guarantee of $38.5 million.

It was previously reported that Miller was seeking close to $60 million guaranteed over his first three years, but that may not have been accurate.

Mike Florio of Pro Football Talk is reporting that Miller’s proposed deal offered $58 million in guaranteed money for injury, with the remaining $58 million to become guaranteed “on the fifth day of the 2018 league year.” He is also reporting that the Super Bowl 50 MVP is actually seeking $70 million guaranteed in his first three years.

The 2018 season would be Miller’s third year of the new deal, had he signed it. Per Florio, it is common for teams to hold some of the guaranteed cash, comparable to an escrow, with the assumption that it may never pay out and eventually need to be restructured in the future to meet the salary cap.

If Miller continues to snub what the Broncos have offered him, he may have no choice but to play under his approximate $14.2 million franchise tag. The alternative is to or sit out and lose money, but that is a measure he’s reportedly considering at this time.

The Broncos are tight on salary cap space with Demaryius Thomas, Aqib Talib, Chris Harris and DeMarcus Ware eating up the lion’s share as the top paid players.

Should Miller decide to sign his franchise tag, then he would sit under Thomas and his $15.2 million cap hit.

Or, there is always the possibility that Miller gives in and re-examines the deal the Broncos previously offered him. That is, if it is still on the table after Miller turned it down.

Either way, the July 15 deadline is approaching, and so far Miller has been skipping out on the Broncos’ offseason practices. Stay tuned. This isn’t the last you will hear about this sticky situation.