Broncos Place Exclusive Franchise Tag on Von Miller

(photo credit: sportingnews.com)

The Denver Broncos placed their exclusive franchise tag on DE Von Miller on Feb. 29. Troy Renck of the Denver Post first reported the story. There is a difference between the exclusive and non-exclusive franchise tags. With the exclusive tag being placed on the Super Bowl 50 MVP, he is not allowed to negotiate with any other teams (he would've been had Denver placed the other variety of the franchise tag on him).

As PFR notes, Von is entitled to an average of the top-five salaries at his position once restricted free agency begins on April 22. Von, 27 in March, may be on Denver's cap at a cheaper rate under the exclusive franchise tag, as its figure is about $100,000 less than the non-exclusive tag's figure.

Denver has until July 15 to sign Miller to an extension, which could surpass Ndamukong Suh's six-year, $114.38M deal he signed last offseason with the Miami Dolphins.