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Rookie QB Bo Nix signs first professional contract with Broncos

As the No. 12 overall draft pick, Nix will receive a signing bonus of $10,357,400.

ENGLEWOOD, Colo — Whether Bo Nix turns out to be the Broncos' franchise quarterback remains to be seen.

But the team is going to pay him to be, regardless.

The Broncos signed their first-round draft selection Friday evening to a fully-guaranteed four-year, $18.61 million contract that includes a signing bonus of $10.36 million.

Almost all the salaries and signing bonus among draft picks are pre-slotted using a formula agreed to by both the NFL and the NFL players union. Nix received his money as the No. 12 overall pick in the NFL Draft that was held two weeks ago.

VIDEO ABOVE: George Paton talks about Broncos draft class with Mike Klis

The next day, in an interview with 9NEWS, Nix was asked if he was ready to meet the QB standards in a town still spoiled by once calling the likes of John Elway and Peyton Manning their own.

“Well, I hope so,’’ Nix said. “I definitively believe I am. I’m going to compete as hard as I can to be talked about like that. It’s no small thing to be talked about with those guys who have been there and done everything that has made them Hall of Famers and so successful over time.

“But I know I’m not going to do it in one night. I know I’m not going to do it right now. I’m going to just take it day by day and be the best I can be around the coaches and players and get to know them so that we’re all finding success.”

Nix replaces the deposed Russell Wilson as the Broncos' Next Great Quarterback Hope. The Broncos released Wilson in March even though they will pay nearly $38 million of his $39 million salary in 2024 and absorb $85 million in dead-cap charge over the next two years ($53 million this season). Wilson is now playing for the Pittsburgh Steelers, who will play the Broncos in Denver at a date and time that will become known Wednesday when the NFL releases its schedules.

Nix, 24, was a five-year college starting quarterback, first for three seasons at Auburn and then the last two at Oregon. He threw an incredible 45 touchdowns against just 3 interceptions last year for the Ducks.

Nix is currently operating the offense at the Broncos' three-day rookie minicamp that continues Saturday and Sunday. He and the rest of the rookies will then join the veterans for the final week of the Broncos' offseason workouts next week. The OTA practices will begin May 20.

Nix and veterans Zach Wilson and Jarrett Stidham are the Broncos' three quarterbacks. The team is also giving a tryout this weekend to Division II Colorado School of Mines star quarterback John Matocha. 

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