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According to Mike Klis of 9News, the Denver Broncos have officially signed their first round draft pick, Paxton Lynch. The deal is reportedly a 4-year contract with a fifth-year option. Under the Collective Bargaining Agreement (CBA), this is fairly structured already for rookie first round picks.
Broncos have agreed to 4-year contract (with 5th year option) with No. 1 pick, QB Paxton Lynch. #9news
— Mike Klis (@MikeKlis) June 9, 2016
The deal will be worth around $9.5 million not including the fifth year option, with about $5.1 million in signing bonuses. The Broncos now officially have their quarterback of the future.
Paxton Lynch signing bonus should have come in around $5.1 million. Total value (not including 5th year option) of about $9.5 mill. #9news
— Mike Klis (@MikeKlis) June 9, 2016