Von Miller turns down Broncos’ $114.5 million contract offer

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ENGLEWOOD, Colo. -- The Broncos offered linebacker and Super Bowl 50 MVP Von Miller a five-year, $114.5 million contract that has been turned down, according to various reports.

ESPN's Adam Schefter reported the framework of the offer Wednesday and that the deal includes $39.8 million in guaranteed money.

The Broncos placed the exclusive franchise tag on linebacker Miller in March, ensuring he will be with the team in 2016. The sides have until July 15 to work out a longer deal, but Broncos general manager John Elway put in a Tuesday night deadline to get the linebacker to attend this week's mandatory minicamp and to not miss the offseason program.

The Broncos placed the franchise tag on receiver Demaryius Thomas in 2015 and offensive lineman Ryan Clady in 2013. Both sat out offseason workouts before signing a longer-term deals in the summer.

In March, Miller told NFL Network that he wants to be a “Bronco for life.” He has played five seasons with the Broncos, making the Pro Bowl four times. He has 60 sacks in his Broncos career.

In Super Bowl 50, Miller had two sack-strips of Carolina Panthers MVP Cam Newton that led to two Broncos touchdowns in the 24-10 win. He also had 2 1/2 sacks and an interception in the AFC Championship Game against the New England Patriots.

Miller would make $14.13 million this season under his franchise tag. He said Monday at the Broncos' appearance at the White House that "real progress" had been made in negotiations. The Broncos can place the franchise tag on Miller in 2017 for $16.96 million and in 2018 for $24.4 million.

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