The Denver Broncos kicked off their rookie mini-camp on Thursday and it will conclude today, May 13. Denver selected eight players in the 2017 NFL Draft, and signed 16 college free agents.
Despite being unsigned, Henderson has chosen to stick around in Denver to participate at rookie mini-camp, per Mike Klis of 9NEWS. With all seven of his 2017 draft pick brethren under contract, what's the hold up with Henderson? Klis laid it out quite nicely.
His contract issue is there are discrepancies with how the total draft pool compensation is allocated to a window of third-round picks.
To make up for this discrepancy, agents try to negotiate compensation above the minimum salary in years two, three and four of the four-year rookie deals. Often this additional compensation comes in the form of workout bonus.
For instance, Justin Simmons, the Broncos’ third-round pick last year, got workout bonuses of $13,000 in his second year (this year), $14,000 in 2018 and $15,000 in 2019. An extra $42,000. Not much in the grand scheme of team payrolls, but teams don’t like to set precedents and agents do.
As Klis points out, Henderson will likely wait for other rookie third-rounders around the league to sign before he does. Meanwhile, it is expected that he'll sign a waiver so that he can particpate in Denver's light practice out on the grass.
It's nothing to worry about. Denver will try to strong arm the situation but it'll get done without the team losing too much face. The monies involved are a drop in the bucket compared to the total value of NFL contracts. It's all about that precedent.
The Broncos kick off Phase 3 of their offseason training program on May 23. I'd be shocked if Henderson hasn't signed on the dotted line by then.
Chad Jensen is the Publisher of Mile High Huddle. You can find him on Twitter @ChadNJensen.