The Broncos have placed Justin Simmons on the franchise tag, according to a report by KOA radio. The Broncos have since officially tagged Simmons. 

This is the second-straight year Simmons has been tagged. He is set to make $13.73 million next season unless the two sides reach a long-term deal by July 15. 

“Designating Justin with the franchise tag is a procedural move that allows us to continue working on a long-term deal,” General Manager George Paton said in a statement Friday. “We are completely focused on making sure Justin remains a big part of the Denver Broncos for many years to come.”

Breaking: Per league source Broncos all pro safety Justin Simmons will be getting the franchise tag today.

— Benjamin Allbright (@AllbrightNFL) March 5, 2021

Simmons has stayed relatively quiet this offseason, despite being maybe the franchise’s biggest storyline other than quarterback speculation and Von Miller’s future.

Coming off a season in which he played on the franchise tag and made his first Pro Bowl, Simmons is hoping the Broncos sign him to a bigger contract this offseason. And after staying mostly mute on the topic since the season’s end, he broke his silence Wednesday during a SiriusXM NFL Radio interview, saying, “It seems like Denver wants me back and I want to be there.”

Free Agent Safety Justin Simmons discussed his future and the possibility of the franchise tag in Denver…”It seems like Denver wants me back, and I want to be there.”#Broncos | @Broncos | @JSimms1119 pic.twitter.com/VNiqfHK4qw

— SiriusXM NFL Radio (@SiriusXMNFL) March 3, 2021

Will Von Miller return to the Broncos? GM George Paton responds.

Simmons’ hunch was right — the Broncos do want him in Denver. And Paton said as much Thursday during a virtual press conference. 

“Justin is one of our core guys. Our goal since I got here is to sign him to a long-term deal. We have had discussions with his agent. I don’t know if we’ll get a deal done or not, but that’s our goal. He’s the type of guy we want to extend.”

If the Broncos and Simmons want to work out a long-term deal, they now have more time under the franchise tag. The previous deadline would have been March 17. 

So what would a long-term with Simmons look like?

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If Simmons wants to be a top-five paid safety in the league, which it’s assumed he does, then his contract would have to fall somewhere between Arizona’s Budda Baker ($14.75 million per year) and Washington’s Landon Collins ($14 million per year). 

In 2020, Baker became the highest paid safety in NFL history, signing a four-year, $59 million contract that included a $10 million signing bonus and $33.1 million guaranteed. Collins, who is currently tied with Kansas City’s Tyrann Mathieu for the fifth-highest salary by a safety, signed a six-year, $84 million contract with a $15 million signing bonus and $44.5 million guaranteed. 

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Simmons’ long-term deal would probably be somewhere in that range, around 4-6 years for at least $56 million, with close to a $10 million signing bonus and $30 million guaranteed. Spotrac currently values Simmons at a five-year, $77 million contract, which would make him the highest paid safety in the NFL at approximately $15.4 million per year. At 27 years old, Simmons is in his prime and the Broncos would likely want him for at least four more years. 

And considering the type of production he’s had, not missing a snap in the last three seasons and producing 16 career interceptions in his five years, it would make a lot of sense for the Broncos to keep him around. 

“I know everyone knows at the end of the day, that it is a business,” Simmons said in the radio interview, “it’s just a matter of it working out on both sides.”