Broncos punter Britton Colquitt signed his restricted tender on Tuesday and will be paid $1.323M this season. According to the Denver Post, the two sides are expected to work toward a long-term deal in the coming months.
Along with T Chris Clark and RB Lance Ball, Colquitt was tendered in March at the Right of First Refusal Only level, which meant the Broncos had the right to match any potential offers from other teams, but would not have received any draft pick compensation in the process.
Prior to the start of free agency, the DP had reported that Colquitt would be tendered at the second-round level, thus drawing a $2.023M salary. So it was something of a surprise when the Broncos chose the lesser tender, but their slight gamble paid off.
As has become typical, only one player was signed to an offer sheet this offseason - WR Emmanuel Sanders by the Pats, but the Steelers matched - presumably because teams don't want to put their plans on partial hold for five days while they wait for the original team to decide whether to match.
In Denver's case, that means they will have saved $700K on a one-year deal, and if they do end up signing Colquitt to a longer contract, they'll be working off a lower baseline.
Exclusive Rights free agents Mitch Unrein and Tony Carter signed earlier in the month, and only Ryan Clady, who received Denver's franchise tag, has yet to sign his tender.