Demaryius Thomas Reportedly Agrees to New Contract with Denver Broncos

Demaryius Thomas and the Denver Broncos reportedly were able to reach an agreement on a new five-year contract worth $70 million, according to Adam Schefter of ESPN, who added that the deal had $43.5 million in guarantees. 

The contract follows Dez Bryant's own five-year, $70 million contract in Dallas, as reported by Chris Mortensen of ESPN.

Thomas' deal could be seen as a surprise following a report earlier in the day from Ian Rapoport of NFL Network claiming that the Broncos and Thomas weren't expected to reach a deal, barring a "significant turn" from either the player or the team. 

Prior to the agreement, Albert Breer of NFL Network noted that the team had adjusted its offer to Thomas four times, with the last one coming in June. While that offer was strong in guarantees, it did not have the per-year average Thomas is looking for, according to Breer.

KUSA Channel 9 in Denver reported that Thomas was prepared to sit out the entirety of training camp and the preseason if a deal was not done by the deadline on Wednesday.

Few players have benefited from the presence of Peyton Manning more than Thomas. In 2011, with Tim Tebow and Kyle Orton as his quarterbacks, the 27-year-old caught 32 passes for 551 yards and four touchdowns.

In his three seasons with Manning, Thomas has averaged roughly 99 receptions, 1,494 yards and 12 touchdowns a year.