Denver Broncos linebacker Von Miller has reportedly turned down a six-year $114.5 million dollar contract with the Broncos. According to reports, the deal guaranteed $39.8 million dollars over the first two years.

Joel Corry, a former NFL agent and now a writer for CBS Sports, joined The Big Show on Mile High Sports Radio AM 1310 | FM 104.7 to update and give his insight on the latest news about Miller’s contract negotiations.

“When I saw the overall dollar amount, that signaled to me a deal can get done,” Corry said. “[But] when you have $39.8 million fully guaranteed, that can’t be the only amount of guarantee in the deal. That needs to come up some. I suspect the overall guarantee could go up to $50-60 million.”

Star defensive pass rushers, especially Miller, can compare their offers to the contract linebacker Justin Houston received from the Kansas City Chiefs in the 2015 offseason. Houston is getting paid $16.8 million a year, $3 million less than what Miller turned down, but more than 50 percent ($52.5 million) of his six-year contract is guaranteed.

Corry wasn’t convinced Miller’s guaranteed money wouldn’t go up because of the five-year, $70 million contract the Broncos gave Demaryius Thomas last offseason. Thomas was guaranteed $43.5 million.

“There’s no way they’re going to give Von Miller an offer where the overall guarantees are less than the overall guarantee of Demaryius Thomas,” said Corry. “There has to be more guarantees in this deal. There has to be some money that is conditionally guaranteed that becomes fully guaranteed at a later date. Wouldn’t make sense for Denver to give him an offer where the overall guarantee isn’t over $50 million.”

Thomas received $8.5 million of his guaranteed salary for 2015 season five days after Super Bowl 50.

Miller can expect his guaranteed money to rise after year two, if he signs, but there is plenty of time for Miller and the Broncos to come to terms.

“We [have] five weeks to go, no big deal,” explained Corry. “After the fourth of July things can heat up again. Denver has a history of getting guys done on franchise tags before the deadline. I think all the talk about things are so far apart, it’s way premature to have that speculation. I think there’s gonna be movement before we get to July 15th.”

Franchise players can’t sign a long-term deal after July 15th until the end of the season and Corry is very confident the Broncos will strike a deal with Miller, but the Broncos can expect a long holdout, which could be similar to Kam Chancellor of the Seattle Seahawks – who missed the first two games last season – if they don’t value Miller as he sees he should be valued.

“It’s a high stakes game of chicken, said Corry. At some point Denver is going to want him to play. Players want to get married with a long-term deal, and what Von can do if there isn’t a deal before July 15th and what I would do in his situation is you’re not going to see me until you give me a clause, which prevents you from putting another franchise tag on me in 2017. I doubt he reports on time, but I think there will be a deal done.”

The prohibition clause Corry referred to gives Miller some additional leverage.

He doesn’t have to show up to training camp – he isn’t under contract so he won’t be fined – until the Broncos fulfill Miller’s request for the clause. The prohibition clause states the Broncos are not allowed to put a second franchise tag on him next season.

Albert Haynesworth, the former defensive tackle, was the last person to get one in 2007, when he asked the Redskins for one, but his was conditional. He had to play a certain amount of snaps for the clause to be valid. Asante Samuel, former cornerback, was another player who had a conditional prohibition clause with the Eagles.

If the Broncos don’t sign Miller to a long-term deal before July 15th, Miller and the Broncos have a tough decision to make. Does he play under his $14.129 million franchise tag or does he hold out and lose that money?

Miller probably won’t sit out and lose all that money, but the last thing the Broncos want is an unhappy Von Miller and the last thing Von Miller wants is to be paid below his value.

Listen to the full conversation with Joel Corry in the podcast below…

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