Report: Von Miller turns down Broncos’ 6-year, $114.5 million offer

ESPN’s Adam Schefter reported that Miller and the Broncos have yet to come to a long-term agreement.

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Denver Broncos linebacker Von Miller (58) strip sacks Carolina Panthers quarterback Cam Newton (1) during fourth quarter action in Super Bowl 50 at Levi's Stadium in Santa Clara, CA, February 7, 2016. Photo by Ben Hays.

Denver Broncos linebacker Von Miller strip sacks Carolina Panthers quarterback Cam Newton during fourth quarter action in Super Bowl 50 at Levi's Stadium in Santa Clara, CA, February 7, 2016. (Ben Hays/Denver Broncos)

The Denver Broncos and Von Miller still have some major hurdles to clear if they want to get a long-term deal done in time for next season.

According to a report from ESPN’s Adam Schefter, the Broncos offered Miler a six-year deal worth $114.5 million that includes $39.8 million guaranteed over the first two years of the deal. Those figures weren’t enough to get a deal done, though.

The reported deal is on par with the one Miami Dolphins defensive tackle Ndamukong Suh signed last offseason — the richest contract ever for a defensive player — in terms of years (six) and annual salary (a little north of $19 million). But Suh got $59.955 million in guaranteed money over the first three seasons of the contract.

If a deal isn’t reached by July 15, Miller will play this season for Denver on a one-year franchise tender worth $14.129 million. Miller can’t negotiate with other teams because the Broncos slapped their exclusive franchise tag tender on him in March.

This leaves the Broncos star linebacker without many options. He can agree to a long-term deal before July 15, play out the 2016-17 season in Denver on the one-year, $14.129 million deal, or sit out the season and lose money.

Miller earned Super Bowl 50 MVP honors in February for racking up 2 ½ sacks and forcing two fumbles. He’s averaged 12 sacks a season in his five-year career.

The Broncos and Miller appeared to be close on a deal earlier in the week. Miller attended the team’s Super Bowl 50 celebration at the White House on Monday and told reporters that “real progress” had been made.

Apparently it wasn’t enough.