The Denver Broncos announced on Monday that the club has reached a four-year deal with kicker Matt Prater.

Prater had been given the franchise tag, and the two sides had until July 16 to reach an agreement on a long-term deal or have Prater play for the franchise tender of $3.2million. There had been earlier reports and speculation of a deal being close, but nothing had been finalized until Monday.

Broncos vice president of operations John Elway announced the signing on Twitter.

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Terry McCormick covers the Titans for TitanInsider.com