The Denver Broncos kicked off their (voluntary) offseason program on Monday with a few housekeeping transactions.
First, the Broncos signed outside linebacker Malik Reed to a one-year right of first refusal tender worth $2.433 million, the team announced. Other teams will be allowed to make Reed an offer but Denver will get an opportunity to match any offer the outside linebacker receives.
After that, the Broncos signed quarterback Brett Rypien and safety P.J. Locke to their one-year exclusive rights free agent tenders. These signings were mostly formalities because ERFA players have no leverage in negotiations.
Rypien is now set to earn $965,000 this season and Locke will receive $895,000, according to OverTheCap.com.
Denver also waived offensive tackle Cody Conway, who missed last season after suffering a torn ACL during training camp. After parting ways with Conway, the Broncos’ remaining offensive tackles are Garett Bolles, Billy Turner, Calvin Anderson, Tom Compton, Quinn Bailey, Drew Himmelman and Casey Tucker.
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