According to NFL Networks Ian Rapoport, the Denver Broncos plan to place the franchise tag on wide receiver Demaryius Thomas if the two sides cannot agree to a long term contract.
Broncos set to use franchise tag on Demaryius Thomas if necessary, per @RapSheet http://t.co/pQbQTSnRkS— Around The NFL (@AroundTheNFL) February 11, 2015
According to Rapoport the Broncos and Thomas haven't talked about a contract for "some time". The last time the two reportedly spoke about a contract was in late October when the two sides decided to table their talks until the offseason.
If the Broncos do decide to place the franchise tag on Thomas it would cost them roughly 13 million dollars. Doing this would limit the Broncos to re-sign their other key free agents like tight end Julius Thomas and Terrance Knighton.
Putting the franchise tag on Thomas would allow the Broncos more time to discuss a contract extension with him and his agent but, they would run the risk of Thomas holding out if doesn't receive a contract extension this offseason.
Either away it appears that Peyton Manning will have his number one receiver back for 2015.