Bo Nix has become the first of six first-round quarterbacks to sign his rookie contract.
ESPN’s Adam Schefter reports that the Broncos quarterback signed his four-year, $18.61 million fully guaranteed contract with a fifth-year option. Nix receives a $10.36 million signing bonus and has a $3.384 million salary cap hit for 2024.
The Broncos selected Nix with the 12th overall pick out of Oregon.
He will participate in this weekend’s rookie minicamp as he begins to work toward the starting job. Nix competes against veterans Jarrett Stidham and Zach Wilson.
The Broncos also completed the deal with seventh-rounders Devaughn Vele and Nick Gargiulo and fifth-rounders Audric Estime and Kris Abrams-Draine.
Third-round running back Jonah Elliss and fourth-round receiver Troy Franklin remain unsigned.