The NFL management council, the league's legal arm, has informed teams of what the franchise player salaries would be for each position in the coming season. Teams can designate one franchise player and that player, if he signs the tendered offer, earns a one-year guaranteed salary that is the average of the top players at his position.
For a linebacker like Miller that will be $14.129 million for 2016.
The Broncos and representatives for Miller are trying to negotiate a long-term deal and executive vice president of football operations/general manager John Elway met with Miller's agent, Joby Branion, Friday at the scouting combine.
Teams must designate franchise players by 4 p.m. ET March 1. The Broncos would only use the franchise player tag on Miller if they haven't worked out a long-term deal with Miller by that date and want to keep him off the open market when free agency opens on March 9.
Miller said last week he expected the talks with the Broncos would be "peaceful" and he believed a long-term contract would get worked out. Elway said at the combine this past week the Broncos have exchanged multiple proposals with Miller's representatives since the Broncos' win in Super Bowl 50 -- Miller was named the game's MVP with 2.5 sacks and two forced fumbles.
"I'm excited about it," Elway said. "...So far it's been good, we're in the ballpark, at least I believe so ... I think we're in the ballpark ... he's a guy we're going to keep around."
The "ballpark" is likely a deal north of $100 million with the kind of guaranteed money that could make Miller the league's highest-paid defensive player. And though the Broncos might want something on the order of Justin Houston's $52.5 million guaranteed in that six-year, $101 million deal, Miller and his representatives will likely want to start at the $60 million guaranteed in Marcell Dareus' six-year, $96.57 million deal with the Buffalo Bills.
The last three players who the Broncos designated as the franchise player -- Ryan Clady, Matt Prater and Demaryius Thomas -- each signed a long-term deal before that season's training camp opened. This year the deadline to sign a designated franchise player to a long-term extension before the 2016 season is July 15. If the Broncos and Miller were unable to make a deal before then, Miller would play under the franchise player salary and the Broncos could re-start talks after the 2016 season.
Miller told ESPN.com he believed the Broncos were prepared to get a deal done.
"If I was with any other organization, if I was with any other team, maybe I'd be worried about everything, but I've got John Elway. He's played, he's had experience with this whole process," Miller said. "I feel comfortable. Me and John's relationship is great. He was there when I was going through stuff and he never wavered. I feel like we won't waver now either. It will be a great experience, and it will be peaceful -- there's no reason for it not to be."