Broncos place exclusive franchise tag on Von Miller

The MVP of Super Bowl 50 isn't going anywhere.

With the two sides still yet to reach a multi-year extension, the Denver Broncos have officially placed the franchise tag on star pass-rusher Von Miller, the team announced Tuesday.

Miller, long having established himself as one of the league's most dominant defensive players, was always the most logical candidate for the Broncos' franchise designation.

The exclusive tender gives Denver sole negotiating rights with Miller in the coming weeks, putting the two sides in the best possible position to strike a new deal before training camp.

"Designating Von as our franchise player gives us the time to continue working toward a long-term agreement," general manager John Elway said in a statement. "We've had productive talks with Von's representation, and we'll continue those discussions with the goal of making sure Von remains a Bronco well into the future."

Miller has spent five seasons with the Broncos after joining the club as a first-round pick in 2012. He's recorded an incredible 60 sacks over that span, and earned four trips to the Pro Bowl.

Negotiations for Brock Osweiler and Malik Jackson will likely continue over the next week, but both players should now have the opportunity to test the free-agent market.

Each player could have received either the franchise or transition tag had the Broncos first struck a deal with Miller.