The Broncos placed the franchise tag on Justin Simmons in March, but they hope to reach a long-term agreement with the safety before the July 15 deadline.
The sides appear to be growing ever closer to a deal.
“As far as Justin, we’re in negotiations right now,” General Manager John Elway said on a conference call with the team’s beat writers Monday. “We’ve given them an offer. They gave us an offer back. We’re in active negotiations with Justin.”
Chicago’s Eddie Jackson is the highest-paid safety based on annual average, with a five-year extension he signed in January paying him $14.6 million per season.
Simmons, 26, earned second-team All-Pro honors in 2019 after posting career highs in interceptions (four) and pass breakups (15).
He has not missed a defensive snap in two full seasons.