The deal is worth up to $70 million with $43.5 million guaranteed, according to multiple reports. ESPN’s Adam Schefter was first to report the deal, followed by Albert Breer of NFL Network and others.
The reported terms of Thomas’s deal are nearly identical to those reportedly agreed to by Dallas Cowboys receiver Dez Bryant. Bryant’s contract is said to be worth $70 million over five years with $45 million guaranteed.
Thomas, 27, has started every game for the Broncos over the last three seasons. The 2010 first-round pick was second in the NFL in receptions and receiving yards last season, behind Antonio Brown of the Pittsburgh Steelers.
Thomas has caught at least 92 passes in each of the past three years. In 48 games with Peyton Manning as his quarterback, Thomas has 297 receptions for 4,483 yards and 35 touchdowns.
- Dan Gartland