Report: Broncos expected to use franchise tag on Demaryius Thomas

With the two sides still yet to reach an agreement on a long-term deal, the Denver Broncos are set to use the franchise tag on wide receiver Demaryius Thomas.

Opting for the one-year designation won't come as much of a surprise, but the Broncos are expected to officially use the "nonexclusive" tag on Thomas on Monday, according to Mike Klis of the Denver Post.

General manager John Elway recently indicated that the team would elect to use the tag barring a multi-year agreement, but going with the "nonexclusive" designation will allow other teams to negotiate with Thomas in free agency.

While it's highly unlikely that another team would sign Thomas to an offer sheet given the required compensation of two first-round picks, the Broncos are simply keeping their options open as they all but confirm that their star wideout will return to the team in 2015.

The 27-year-old has emerged as one of the NFL's most productive wide receivers in recent seasons, and the chances were slim to none that the Broncos would have let a player of his caliber walk away in free agency.