DENVER, CO - DECEMBER 29: Outside Linebacker Von Miller #58 of the Denver Broncos defends on the play against the Oakland Raiders during the second quarter at Empower Field at Mile High on December 29, 2019 in Denver, Colorado. The Broncos defeated the Raiders 16-15.

Report: Broncos exercise Miller's 2021 option

Justin Edmonds / Getty Images Sport / Getty

The Denver Broncos are keeping Von Miller.

The Broncos will pick up Miller's 2021 option, guaranteeing $7 million of his $18-million salary, a source told Mike Klis of 9News.

Denver offered Miller a restructured deal last week that included a pay cut, which Miller declined, Klis notes. However, the Broncos reportedly always intended to retain the edge rusher.

"I have totally bought into being a Coloradoan for life, let alone a Denver Bronco," Miller wrote on Instagram. "I want to be here forever through the thick, the thin, the Super Bowl seasons, the losing seasons. I want to be here forever."

Miller missed the entire 2020 campaign after suffering an ankle injury before the season. He posted eight sacks in 2019.

An eight-time Pro Bowler, Miller has recorded double-digit sacks in seven of his nine seasons. He's the Broncos' all-time sacks leader with 106.

Denver is set to pair Miller opposite pass-rusher Bradley Chubb, who notched 7.5 sacks last season. The duo's most productive year came in 2018 with a combined 26.5 sacks between them.

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