According to Mike Klis of 9News, the Denver Broncos have placed a right of first refusal tender on outside linebacker Malik Reed. The one-year deal will be worth $2.433 million. Other teams can still try to sign Reed, but Denver will have the opportunity to match any contract offer.
Per source, Broncos are giving restricted free agent OLB Malik Reed the Right of First Refusal tender. $2.433M salary. #9sports— Mike Klis (@mikeklis) March 16, 2022
Reed, 25, has piled up 13 sacks over the last two seasons and figures to be in the mix to spell both Randy Gregory and Bradley Chubb next season. He has been a bit suspect in run support, but there is no denying he can get after the quarterback.
A “right of first refusal” will give the Broncos to match any qualifying offer the player signs. The specific language appears to give Reed the opportunity to seek a contract up until April 22nd.
If a player with three accrued seasons has received a “qualifying offer” (a salary tender predetermined by the Collective Bargaining Agreement between the league and its players) from his old club, he can negotiate with any club through April 22. If the restricted free agent signs an offer sheet with a new club, his old club can match the offer and retain him because the qualifying offer entitles it to a “right of first refusal” on any offer sheet the player signs.
If the old club does not match the offer, it may receive draft-choice compensation depending on the amount of its qualifying offer. If an offer sheet is not executed on or before April 22, the player’s negotiating rights revert exclusively to his old club. In addition, prior to the start of free agency a player who would otherwise be a restricted free agent may be designated by his old club as its franchise player or transition player.
Similar to the way the Broncos dealt with running back C.J. Anderson’s original round tender back in 2016. He ended up with an offer from the Miami Dolphins and the Broncos matched it to bring him back for that season.