Earlier in the offseason the Denver Broncos used the franchise tag on kicker Matt Prater, which would guarantee him a $2.6 million contract for the 2012 season. According to a report from the Denver Post, Prater and the Broncos are nearing an agreement on a contract.
Per the report, it's a five-year contract.
The two sides have been negotiating a deal and enough progress has been made for the Broncos to believe something will be finalized soon, the Post reports:
However, Prater and the Broncos have been working on a five-year contract extension that figures to average more than $3 million per. The two sides made enough progress last week for the Broncos to believe a settlement could be reached in time for the team's mandatory minicamp, which will be held next week.