The contract is the biggest in franchise history, and includes $43.5 million guaranteed. Of that, $35 million is guaranteed over the first two seasons. Had the sides not hammered out a deal Wednesday, Thomas would have played this season on the $12.823 million franchise tag, which still would have been about as much as he'd made in his first five seasons combined.
The star receiver also said he'll bypass Peyton Manning's annual passing camp next week at Duke, where the five-time MVP QB works on his timing with his wide receivers. Thomas said if a long-term deal isn't reached, he'd sign the Broncos' $12.823 million franchise tender by the July 15 deadline.
Thomas could always signal his displeasure with the move by waiting to sign the tender and skipping offseason workouts that begin the first week of April. If Thomas doesn't sign a long-term contract, the Broncos could use the franchise tag on him again next year.