The Broncos are ready to move forward with Brock Osweiler as the new face of the franchise, as reports revealed the defending champions offered a lucrative deal to the 25-year-old quarterback.
According to 9News, the Broncos tendered a three-year contract worth $45 million. Sources also told 9News that the offer includes incentives, but it is still unknown at this point how much of the $45 million salary is fully guaranteed in the next three years.
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Osweiler has until Wednesday afternoon to reach a new deal with Denver. He could delay negotiation with the Broncos and become an unrestricted free agent at 2 p.m. ET Wednesday.
If he becomes an unrestricted free agent, the former Arizona State standout is expected to get a lot of attention on the market after having a remarkable year with the Broncos. He played in eight games, including seven starts, completing 61.8 percent of his passes for 1,967 yards and 10 touchdowns.
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Osweiler went 5-2 for the Broncos last season before Peyton Manning returned from an injury. According to sources, the Texans, Browns and the Jets could also make a strong push to acquire Osweiler.
The Broncos, who defeated the Panthers at Super Bowl 50 in February, are expected to tender a stronger offer if Osweiler declines to accept the initial deal. They need to sign Osweiler after reports indicated that Manning will not return to play next season.
Denver revealed Sunday that Manning, who won two Super Bowls and five Most Valuable Player awards in his 18-year career, will announce his retirement in a news conference on Monday.
"Peyton was everything that we thought he was and even more-not only for the football team but in the community," Broncos general manager John Elway said in a statement. "I'm very thankful Peyton chose to play for the Denver Broncos, and I congratulate him on his Hall of Fame career."
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