The Denver Broncos are prepared to place the franchise tag on left tackle Ryan Clady, according to the Denver Post.

"We're going to tag him," said John Elway, the Broncos vice president of football operations.

Elway said the Broncos are still hopeful of working out an agreement long-term with Clady, who is coming off shoulder surgery.

"We'd like to work something out, like we did last year," Elway said, referring to contract negotiations with Clady that broke off before training camp. "Things have changed a little bit because he's coming off a shoulder surgery. But we like Ryan. We like him a lot as a player and we'd like to get something done."

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Terry McCormick covers the  Titans for TitanInsider.com