The Broncos placed their franchise tag on Thomas in early March, guaranteeing him $12.8 million next season. Thomas has yet to sign the deal and has decided to not show up to off-season workouts, which began on April 13.
"To be dead honest with you, I see absolutely zero value with him being away from here," Elway said Thursday. "Him being away from here, there is zero value not only to us, but to him. To me it makes no sense."
According to the Post, Thomas has been working out on his own and has indicated that he will be at training camp.
When Elway was presented with the suggestion that Thomas may be skipping workouts to avoid injury, the general manager said he doesn't understand that because Thomas would be covered by medical insurance if he were injured while with the team.
"Tell me why that makes sense, that he wouldn't be here working out with us," Elway said. "I don't understand it all. That's part of the game, but it makes no sense for him not to be here."
Thomas caught 111 catches for 1,619 yards last season, both of which were career highs. He also added 11 touchdowns.
- Molly Geary