[b] New Deal will Keep Smith in Denver
By Bill Williamson
Denver Post Staff Writer
Article Last Updated: 03/21/2007 11:32:35 PM MDT
It's official. Rod Smith will be a Bronco in 2007 - and perhaps beyond.
Beating a Wednesday deadline, the Broncos and the team's all-time leading receiver tweaked a temporary contract restructuring agreement, ensuring he will stay with the team.
The new deal includes incentives that would reward Smith should he have a strong 2007 season.
Smith, who will be 37 in May, restructured his contract March 7 down to a base salary of $1.5 million for the 2007 and 2008 seasons. The new incentive-based deal also covers the 2008 season, the final year of Smith's contract.
The agreement was made during a meeting at Dove Valley on Wednesday. Head coach Mike Shanahan and general manager Ted Sundquist were present.
When the two sides made the temporary agreement, it meant Denver wouldn't be forced to make Smith a salary cap casualty. However, it left three scenarios: Smith gets an incentive-based deal, the contract remains the same or Smith decides to move on.
"We're all very happy that this was the outcome," said Tom Mills, one of Smith's Boulder-based agents. "The most important part is Rod is satisfied and excited about it."
Mills said both sides hope Smith can play the next few years. If that happens, Smith's playing time likely will be limited. Smith essentially is a coach on the field, so his presence in the locker room is valued by the Broncos.
Smith had hip surgery last month and is expected to be ready for training camp.