Demaryius Thomas, Broncos Agree on New Contract: Details, Comments, Reaction

The Denver Broncos bought themselves time in the 2015 offseason by placing the franchise tag on star wide receiver Demaryius Thomas back in March.

That move has now paid off, as Thomas agreed to a long-term contract Wednesday that will keep him in the Mile High City for the prime of his career.

ESPN's Adam Schefter reported Thomas agreed to a five-year, $70 million deal, with $43.5 million guaranteed. Mike Klis of the Denver Post confirmed the report, and the team later announced it in an official release.

Mike Klis of Channel 9 News in Denver reported the Broncos' offer to Thomas was seven years, $100 million from June 1 to this morning, but the final two years of the deal and $30 million were taken off to make it five years, $70 million.

Thomas is a perennial Pro Bowler with a huge catch radius and amazing explosiveness, long speed and open-field vision. That combination of skills has made him one of the NFL's premier wideouts.

Denver general manager John Elway had stated when the team franchise-tagged Thomas that the ultimate intention was to keep him beyond 2015, per Ben Swanson of the Broncos' official website:

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This is another step in our efforts to extend Demaryius' contract and ensure he remains a Denver Bronco. We will continue working toward a long-term agreement with Demaryius, who is a very important part of our team.

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After signing the deal with Thomas on Wednesday, Elway expressed his excitement over Twitter:

Lindsay Jones of USA Today provided Thomas' thoughts on the new deal on July 17, noting that Thomas never planned to miss any games. Thomas also expressed that he can't believe that he's in this situation.

Troy Renck of the Denver Post added more from Thomas who said he doesn't believe he's a product of Peyton Manning due to yards after the catch, also adding that he plans to be more of a leader next season and is playing lighter with an ankle that isn't bothering him. Thomas believes due to big plays in the offense that he can break the NFL single-season receiving record, per Renck.

Thomas said AJ Green was the first to congratulate him after signing the deal, per Nicki Jhabvala of the Denver Post.

Securing Thomas was hardly easy. Even after Denver offered Thomas a deal to make him the second-highest-paid receiver in football, per Klis, the two sides still stalled on negotiations. ESPN's Adam Schefter reported July 14 that the Broncos and Thomas hadn't had any proposals or talks in more than a month.

As reported by ESPN.com's Dan Graziano, the NFL players' union felt Denver and Dallas were conspiring by having dialogue about how to approach the respective contracts of Thomas and Cowboys star receiver Dez Bryant. The NFLPA threatened to file collusion charges against the two teams.

The Cowboys and Bryant also came to terms on Wednesday, as reported by Ed Werder of ESPN. Now the fiasco is over, and the focus can shift to football—mercifully so for both sides, but especially for the Broncos' brass.

Ultimately, Thomas' contract will come at a price; Joel Corry of CBS Sports noted the team will have to franchise tag linebacker Von Miller next season.

Thomas was Denver's second first-round pick of 2010, and he was raw coming out of Georgia Tech. Thomas played in a run-heavy college offense and ran a limited route tree. Denver didn't fully tap into his potential as he caught passes from Kyle Orton and Tim Tebow for the first two years of his career.

The arrival of Peyton Manning in 2012 pushed Thomas' game to another level. He hasn't had a season below 1,400 yards in the three full years since.

Jack Dempsey/Associated Press

No matter when Manning's time with the Broncos runs its course, his successor can take solace in the fact that Thomas will be in the fold.

Manning's mentorship has boosted Thomas into the elite stratosphere at his position. It's evident that he's absorbed a lot of the wisdom the future Hall of Fame QB has imparted to him.

Provided that Denver maintains continuity on the coaching staff, in the front office and as an organization overall, Thomas ought to thrive no matter who throws him the ball beyond 2015.