In a slight gamble, the Broncos tendered restricted free-agent punter Britton Colquitt with a "right of first refusal" distinction that would pay him a $1.323 million salary for the 2013 season.
The team also tendered Running Back Lance Ball and Offensive Lineman Chris Clark with right of first refusal, but opted not to re-sign Fullback Chris Gronkowski. All three carry Restricted Free Agent status.
Exclusive Rights Free Agents Cornerback Tony Carter and DL Mitch Unrein were also tendered and will make the league minimum for 3rd year players, $630K. If Carter or Clark are signed by another team and the Broncos refuse to match the offer, Denver gets a 2nd round draft pick as compensation.
The Right of First Refusal carries no compensation if another team signs Colquitt to an offer sheet and the Broncos opt not to match the offer. This is why Klis states that it is a gamble.
Colquitt came into the league as a College Free Agent in 2009. He is a 4th year Punter who holds Bronco career records for gross (46.2) and net (39.5) yard punting average (Minimum 100 punts).
Britton set a new franchise season record in 2012 with a 42.1 Net average that ranked 3rd in the league, while holding opponents to a 2nd ranked 6 yard return average. Colquitt has been key in flipping the field for the Broncos in the field position battle each week. He has also ranked in the top tier of Punters in the NFL for the last three seasons.
He is worth a 2nd round draft pick if the Broncos lose him to another team and if that occurs, that other team will be getting a very good Punter who is still improving and at 27, hasn't peaked yet.