It took until the final minutes before the 4 PM EDT deadline to get it done but the Denver Broncos were able to ink wide receiver Demaryius Thomas to a five-year, $70 million contract with $43.5 million guaranteed according to ESPN's Adam Schefter.
Thomas, 27, had been seeking a contract that would have exceeded Calvin Johnson's seven-year, $113.45 million contract that he signed with the Detroit Lions in 2012. The Lions made Johnson the NFL's highest paid wide receiver and guaranteed $48.75 million.
The Broncos, like much of the league, considered Johnson's contract an outlier due to the fact it was signed before the current contract rules were agreed to in the latest collective bargaining agreement signed before the 2012 season.
The deal between Denver and Thomas came just minutes after the Cowboys signed wide receiver Dez Bryant to a five-year, $70 million contract with $45 million guaranteed. A similar deal to Thomas that is sure to raise eyebrows with the NFL Players Association after they had accused the two teams of collusion on Monday regarding the wide receivers' franchise tags.
Thomas, a first-round draft pick (22nd overall) in 2010, has blossomed into one of the NFL's premier wide receivers. He has combined for 28 100-yard receiving games in regular and postseason play. He is the only receiver in the NFL to have at least 30 touchdown catches and 4,000 receiving yards.
Since the arrival of quarterback Peyton Manning in 2012, Thomas has at the minimum caught 92 passes for 1,430 yards and 10 touchdowns each season. Thomas joins Jerry Rice and Marvin Harrison as the only three receivers in NFL history to have three straight seasons with 1,400 yards receiving and 10 touchdown catches.
The deal with Thomas clears the deck for the Broncos and General Manager John Elway as they prepare for 2016 contract negotiations with linebacker Von Miller and defensive end Malik Jackson.
Last season Thomas had 10 100-yard games including an October 5 performance against the Arizona Cardinals in which he caught eight passes for a franchise record 226 yards. Seven of his 100-yard games came in an impressive seven week stretch.
It is not guaranteed that Thomas will continue to produce the kind of numbers he has in the past. The Broncos offense is heading in a more run friendly direction under new head coach Gary Kubiak that will have some impact on Thomas' numbers moving forward. Also, with the 39-year old Manning under contract until the completion of the 2016 season, the Broncos will have a new look offense, possibly as soon as next season, with Brock Osweiler under center.