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Demaryius Thomas and Broncos Agree to Five-Year Deal Worth $70 Million

Oakland Raiders v Denver Broncos

The Broncos and WR Demaryius Thomas have come to terms on a five-year, $70 million dollar deal, per Ian Rapoport of NFL Network.

Denver had used the franchise tag on Thomas, a one-year tender which would have paid him $12.823 million. Thomas sought a long term deal, however, and the sides had until Wednesday at 4 p.m. ET to get one done, or else Thomas would have only been able to play under the one-year tag.

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