ENGLEWOOD, Colo. — Broncos safety Justin Simmons may have to deal with the NFL’s “new economy” during his negotiations as a franchise-tagged player.
The Broncos’ drafted rookies, however, will be spared from the new math.
Every draft pick has a slotted signing bonus based on the league’s old economy. The difference between new money and old is the impact the coronavirus pandemic shutdown will have on NFL revenues, both this year and for years to come.
Rookie totals were part of the collective bargaining agreement the players union barely approved in a vote on March 15 – a few days after the world as we knew it changed because of the virus pandemic.
The Broncos are expected to sign their draft picks between Simmons’ franchise-tag contract deadline of 2 p.m. Wednesday, July 15 and Tuesday, July 21, when the team’s rookies are tentatively scheduled to report for training camp.
Until then, 9NEWS has obtained the slotted signing bonuses for each of the Broncos’ 10 draft picks. In all, the Broncos will pay out $15,522,661 in signing bonuses to their 10 drafted rookies with $14,179,069 going to the five players selected within the first three rounds.
The signing bonus totals (plus minimum salaries of $610,000 for a rookie season, $780,000 in year two; $895,000 in year three; and $1,010,000 in year four) once again proves it pays to get first.
Right, Jerry Jeudy? The signing bonus for the first-round receiver is more than 3 times better than the signing bonus of second-round receiver KJ Hamler.
A look at the Broncos drafted rookie signing bonuses and their expected total contract amount:
Rookie — Rd (pk) — Signing bonus — 4-year total
- Jerry Jeudy — 1 (15) — $8,609,424 — $11,904,424
- KJ Hamler — 2 (46) — $2,750,644 — $6,045,644
- Michael Ojemudia — 3 (77) — $1,015,560 — $4,310,560*
- Lloyd Cushenberry — 3 (83) — $946,176 — $4,241,176*
- McTelvin Agim — 3 (95) — $857,265 — $4,152,268
- Albert Okwuegbunam — 4 (118) … $749,040 — $4,044,040
- Justin Strnad — 5 (178) — $237,776 — $3,532,776
- Netane Muti — 6 (181) — $205,792 — $3,500,792
- Tyrie Cleveland — 7 (252) — $75,492 — $3,370,492
- Derrek Tuszka — 7 (254) — $75,492 — $3,370,492
> There is negotiating wiggle room in years 3 and 4 for third-round draft picks so contract totals may adjust slightly.
RELATED: Broncos top 5 impact players of 2020
> Top stories curated daily just for you! Sign up for the 9NEWSLETTER to get can’t-miss stories, Next and Broncos content, weather and more delivered right to your inbox.
Broncos podcast: Klis' Mike Drop
Denver Broncos headlines, game previews and interviews with our 9NEWS insider Mike Klis.
HOW TO LISTEN
SUGGESTED VIDEOS: Sports
MORE WAYS TO GET 9NEWS
Subscribe to our daily 9NEWSLETTER
HOW TO ADD THE 9NEWS APP TO YOUR STREAMING DEVICE
ROKU: add the channel from the ROKU store or by searching for KUSA.
For both Apple TV and Fire TV, search for "9news" to find the free app to add to your account. Another option for Fire TV is to have the app delivered directly to your Fire TV through Amazon.