The Broncos have signed Ryan Clady (Getty Images)
Mike Klis of the Denver Post reports the deal is worth $52.5 million, but multiple reports have the deal reaching a maximum of $57.5 million. Mike Florio of ProFootballTalk.com reports the $5 million worth of incentives is tied to Clady being named to two All-Pro teams over the next five seasons.
Multiple reports also have Clady's deal worth $33 million in guaranteed money, which will be paid out over the next three seasons.
Clady had earned over $17 million in his rookie contract, including $3.5 million in base salary in 2012, the final season of that deal. Clady was eligible for unrestricted free agency, but the Broncos placed the $9.828 million franchise tag on Clady, who has yet to sign the tender. The two sides had until 4 p.m. ET on Monday to reach agreement on a multi-year deal, otherwise Clady would have been forced to play out the 2013 regular season under the tag.
With a $10.5 million per year average on the base value of the contract, Clady's new deal comes in just below the $11.5 million per year average that Cleveland Browns left tackle Joe Thomas received in a seven-year, $80.5 million extension on Aug. 22, 2011. Thomas had one more Pro Bowl on his resume at the time of his contract's signing than Clady had entering these negotiations, but Clady can match the Thomas deal with two All-Pro selections.
Thomas' deal included $37 million in guaranteed money, which slightly beats the $33 million guarantee in Clady's deal, but it's worth noting that the Thomas contract is two seasons longer than the one Clady agreed to on Sunday night.
Clady was the selected by the Broncos with the No. 12 overall pick in the 2008 NFL draft. Over the last five seasons, Clady has started 80 regular season games and has been named to the Pro Bowl after the 2009, 2010 and 2012 seasons. Clady was also named a first-team All-Pro in 2009 and again in 2012, which means there's an excellent chance he'll earn that additional $5 million.Related coverage on Yahoo! Sports:
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