10:12pm: Fox’s deal is worth between $5MM to $6MM per year, reports Ryan Parker of The Denver Post.
9:10pm: Rapoport’s sources describe the deal as “fair and generous” (via Twitter).
8:33pm: The Broncos and head coach John Fox have agreed to a new three-year extension, reports FOX NFL Insider Jay Glazer (via Twitter). As Glazer notes in his tweet, both Super Bowl head coaches — Fox and Seattle’s Pete Carroll — have agreed to new deals in a 24-hour span. It’s a “completely new” three-year deal, meaning the four-year, $14MM contract he signed in in 2011 was proverbially torn up.
Extending Fox’s contract was a top offseason priority for the Broncos, reported CBS Sports’ Jason LaCanfora in December. NFL.com’s Ian Rapoport tweeted in the days leading up to Super Bowl XLVIII that negotiations were to begin after the big game.
The Broncos are 34-14 in three seasons under Fox’s tutelage, winning the AFC West each year. Before moving on to Denver, Fox coached the Carolina Panthers for nine seasons, including a Super Bowl appearance in February 2004.