The Denver Broncos and rookie quarterback Bo Nix agreed to terms on his rookie contract in what the team hopes will be the first of several potential contracts with the former Oregon Ducks standout.

Denver Broncos QB Bo Nix signs rookie contract

For the first time in a long time, the Denver Broncos have signed a first-round rookie quarterback to their initial contract. Bo Nix signed a four-year deal on Thursday.

His deal is a four-year deal that includes a 5th-year option that gives him a signing bonus of $10.36M and is worth $18.61M fully guaranteed.

Nix is locked in with Sean Payton for the next handful of seasons and Broncos Country is hopeful that he’ll be the team’s long-term option for the foreseeable future.

The Broncos were on the field on Thursday for the first day of rookie minicamp and Nix was present initially under an injury protection agreement, but both sides were able to come to terms on his deal relatively quickly.

With Nix locked in, the Broncos can now move forward with their offseason program.

Broncos get roster to 90 with two moves

Prior to rookie minicamp this afternoon, the Broncos were at 92 players on the roster.

In order to trim their roster to the allotted 90 players, the team released veteran wide receiver Phillip Dorsett and nose tackle Rashard Lawrence.

Dorsett is expected to return to the roster at some point this offseason, in particular after rookie minicamp concludes after the coaching staff evaluates some of the younger players and undrafted rookie free agents.

The team was granted a roster designation for undrafted rookie free agent tight end Thomas Yassmin, who received an international exemption. Yassmin is from Sydney, Australia, and played for six years for the University of Utah.

Denver Broncos rookie minicamp will continue on Saturday morning, where media will have access to practice.