At least one AFC West team has taken care of their franchise player. The Denver Broncos announced today that they have inked long-time kicker Matt Prater to a new contract after labeling him with the franchise tag earlier this offseason.
Happy to announce we have signed kicker Matt Prater to a new four-year deal. ...— John Elway (@johnelway) July 2, 2012
Prater was one of five kickers to receive the franchise tag this spring, so that was a common move for many NFL front offices to do so. A deal was always expected, but the deadline was looming on July 15 for the team to get an extension done or force Prater to play out his way to free agency under the franchise salary. The terms of Prater's deal have not been released at this time.