The Denver Broncos and franchised left tackle Ryan Clady have until 4 p.m. ET on Monday, July 15 to reach agreement on a multi-year contract. With the deadline approaching, the Broncos have increased their offer, John Clayton of ESPN.com reports.
According to Clayton, the Broncos have been offering Clady a five-year contract worth $50 million, but have increased their offer to $52.5 million and are willing to guarantee "significantly more" than 50 percent of the deal. Albert Breer of the NFL Network has reported that the Broncos' offer includes $33 million in guaranteed money over the first three seasons of the deal.
If Clady does not accept the Broncos' offer by Monday's deadline, he will likely play out the season under the one-year franchise tag worth $9.828 million in fully guaranteed base salary. Clady earned over just over $17 million in his five-year rookie contract, including $3.5 million in base salary in 2012.
The $10 million per year average that the Broncos are reportedly offering is equal to what the New York Jets paid left tackle D'Brickashaw Ferguson in a six-year, $60 million extension on July 8, 2010. However, the Broncos' offer is below a more recent extension signed by Cleveland Browns left tackle Joe Thomas, who received $11.5 million per season in a seven-year, $80.5 million extension that was signed on Aug. 22, 2011. Ferguson and Thomas were both 26-years-old when they signed their extensions, the same age Clady is right now.
In terms of guarantees, Thomas received $37 million, while Ferguson's deal included just over $32 million in guaranteed money.
Splitting the difference in both the guaranteed portion of the deal and the "per year" average would make sense as Thomas had four Pro Bowls on his resume when he signed his contract extension, while Ferguson was coming off his first Pro Bowl season. Clady has been named to three Pro Bowls and has twice been named a first-team All-Pro since he was selected by the Broncos with the No. 12 overall pick in the 2008 NFL draft.