Broncos continuing contract talks with Demaryius and Julius Thomas

Lindsay Jones of USA Today is reporting tonight that the Denver Broncos have been engaging in contract talks with both wide receiver Demaryius Thomas and Tight End Julius Thomas. Could the Broncos be nearing a deal with both of them soon?

Julius and Demaryius Thomas have received offers from #Broncos; negotiations will continue into camp, Elway says: http://t.co/radHtqSQem

— Lindsay Jones (@bylindsayhjones) July 16, 2014

Jones spoke to Broncos General Manager John Elway today at the American Century Championship near Lake Tahoe. According to Elway the Broncos do not expect anything to get done before the start on Training Camp which opens July 24th.

"Nothing is going to get done before camp, but we'll keep talking to them in camp,"

Both Thomases are entering their final years of their rookie contracts and appear to be heading towards big pay days in the future. Here's a cool stat, both Demaryius Thomas and Julius Thomas combined to total 157 catches, 2,218 receiving yards and 26 touchdowns in the Broncos record setting offense last season.

According to Elway the Broncos want to get something done really soon.

"I'm never going to go into the season, but the first couple of weeks, we can continue to talk about it. After the second week of the preseason, we'll want to have had something done, one way or another."

So the Broncos are willing to talk until about mid August, but if they do not come to a agreement by then it sounds like they will table talks until the end of the season.

It appears the Broncos could be closer to a deal with Demaryius Thomas. According to CBS 4's Vic Lombardi the Broncos and Thomas's representatives are still negotiating the guaranteed money, but that in the end Demaryius will be receiving a contract that will be putting him amongst the top five paid receivers in the league.

Regarding DT, his offer would put him among the five highest-paid receivers in the NFL. They're negotiating the guarantees.

— Vic Lombardi (@VicLombardi) July 16, 2014

Here's a look at the top five paid receivers in the league via Over The Cap.

It sounds like Demaryius Thomas would end up somewhere in there. Now I don't expect him to get near what Johnson and Fitzgerald received, I see him getting some close or a little bit above what Andre Johnson, Harvin and Wallace received. I think the Broncos will be able to lock up Demaryius before the start of the season.

According to Broncos General Manager John Elway the team has not heard back from the representatives of Tight End Julius Thomas yet. The belief is that they were waiting to see how the Jimmy Graham resolved. It was ruled that Graham will be listed as a Tight End, not a receiver like he argued. However the team and Graham agreed to a four-year deal that is worth $40 million, with $21 million guaranteed. This made Jimmy Graham the highest paid Tight End in the history of the NFL. If Thomas and his agent are looking for this type of deal, they better not hold their breath.

"Even though Julius had a tremendous year for us, he's only (played) 23 games," said Elway. "We want Julius to be a Bronco for a long time and we think he has tremendous upside, but he's not at that level."

The Graham contract could hold up the contract talks until the end of the season. I do agree with Elway here. Thomas did have a tremendous season, but he's yet to play a full season, and as of right now he's just a one year wonder. I don't see Thomas agreeing to an extension before the start of season, and basically betting on himself in the hopes of having a even better season and getting a bigger contract next season.

Julius is a prime candidate to be Franchise Tagged next offseason, and that will probably lead to a potential hold out. However that's a problem for another day.

Go Broncos!