The Denver Broncos announced on Monday afternoon that they agreed to a new four-year deal with kicker Matt Prater. John Elway, the team's executive vice president for football operations, revealed the news via Twitter.
Happy to announce we have signed kicker Matt Prater to a new four-year deal. ...— John Elway (@johnelway) July 2, 2012
Denver used the franchise tag on Prater this spring to keep him on the team. That would have guaranteed him a one-year salary of $2.6 million. Financial terms of Prater's new deal were not disclosed as of Monday afternoon.
The length of the contract differs from reports that surfaced in June claiming that the two sides were nearing completion of a five-year deal.
Prater, 27, made 76 percent of his field goal attempts last season, including three of four attempts of 50 yards or more. He has a career field goal percentage of 78.4 percent and an 80.4 percent mark in four seasons with the Broncos.
For more on the Broncos, visit Mile High Report.