Von Miller is set to become an unrestricted free agent. (Joe Amon, The Denver Post)
A look at what’s ahead for the Broncos and the 31 other NFL teams:
Feb. 16: Teams can designate franchise or transition players.
Feb. 23-29: NFL scouting combine at Lucas Oil Stadium in Indianapolis, Ind.
March 1: Deadline to designate franchise or transition players is 2 p.m. Franchise tags are one-year fully guaranteed contracts for players set to become free agents.
An “exclusive” franchise player cannot negotiate with other teams. The values for each position are no less than average of the five largest salaries at that position for the current year, or 120 percent of the player’s salary from the previous season — whichever is greater.
A “non-exclusive” franchise player may negotiate with other teams, but the original team has the right to match any offer or receive two first-round draft picks. The values for each position are no less than average of the five largest cap hits at that position from the previous five seasons, or 120 percent of the player’s salary from the previous season — whichever is greater.
A transition tag — worth at least the average of the top 10 salaries at that position the previous season, or 120 percent of the player’s previous salary — guarantees the incumbent team the right of first refusal to match an offer the player receives from another team. If it doesn’t match, the team receives no compensation. Teams are allowed only one franchise tag per season, and transition tags — of which teams are also allowed only one per season — can be used when the franchise tag is not.
The Broncos won’t let outside linebacker Von Miller, the Super Bowl MVP, , so they can either give him the franchise tag, with an estimated value of $14.1 million for one year, or sign him to a long-term deal.
March 7-9: Teams can begin to contact and enter into contract negotiations with agents of players who will become unrestricted free agents March 9. Contracts cannot be signed until 2 p.m. March 9.
March 8: This is the last day of the 2015 season. Peyton Manning’s $19 million salary ($21.5 million cap hit) for 2016, the final year on his contract, becomes fully guaranteed. If he retires or is cut, the Broncos get $19 in cap room.
March 9: By 2 p.m., teams must exercise options for 2016 on all players who have option clauses in their 2015 contracts.
March 9: By 2 p.m., teams must submit qualifying offers to restricted free agents with expiring deals and to whom they want to retain a right of first refusal or compensation.
March 9: By 2 p.m., all teams must be under the 2016 salary cap.
March 9: By 2 p.m., teams must submit a minimum salary tender to retain exclusive negotiating rights to their players with expiring 2015 deals and who have fewer than three accrued seasons.
March 9: At 2 p.m., after the expiration of all 2015 contracts, the trading period opens.
March 13: DeMarcus Ware’s $3 million roster bonus is due on the fifth day of the 2016 season. Ware has one year left on his deal, worth $7 million in salary ($11.7 million cap hit). If he’s released, the Broncos would clear up $10 million cap space.
March 20-23: Annual league meeting in Boca Raton, Fla.
April 4: Teams that hired a new coach after the end of the 2015 regular season may begin organized team activities.
April 18: Teams with returning coaches can being OTAs.
April 22: Deadline for restricted free agents to sign offer sheets.
April 28-30: 2016 NFL draft in Chicago.
April 30: After the last pick of the draft, teams can sign undrafted free agents who were eligible for the 2016 draft.
July 15: By 2 p.m., teams that designated a franchise or transition player must sign him to a multi-year contract or extension, or play on the tag and cannot receive a contract extension until the end of the regular season.
