St. Joe's and Ole Miss product Chad Kelly has reportedly signed his four-year rookie contract with the Denver Broncos, which selected him in the seventh round of the NFL Draft.
Kelly will also receive a signing bonus of nearly $65,000, according to Mike Klis of Denver's 9News.
All draft picks receive four-year contracts (with first-round picks eligible for a fifth year), as agreed upon in the NFL's 2011 collective bargaining agreement. Salary and bonus monies are adjusted annually but set by draft slot, meaning Kelly and other draft picks have little negotiating to do on their first contracts.
Broncos have reached agreement on 4-year deal with 7th round QB Chad Kelly. Should get signing bonus worth nearly $65,000. #9sports
— Mike Klis (@MikeKlis) May 10, 2017
The Broncos open a rookie minicamp Thursday, though Kelly is unlikely to participate as he recovers from surgery on his right, throwing wrist. He was spotted in Buffalo Tuesday afternoon, wearing a wrap on the wrist as he cheered on his younger brother at a high school lacrosse game.