Clady's franchise tag salary for next season will be $9.828 million. He made $3.5 million last season in the final year of a five-year deal he signed as a rookie.
Clady reportedly rejected a five-year, $50-million contract from Denver, including $28 million guaranteed.
The 26-year-old has started every game of his career and has been selected to three Pro Bowls.
---The Buffalo Bills will place a franchise tag on free safety Jairus Byrd.
Byrd has sought a long-term contract, but the two sides have yet to reach an agreement. The franchise tag will ensure Byrd a one-year base salary of $6.9 million in 2013 and keep him in Buffalo another season while discussions continue on a new deal.
---The Carolina Panthers released defensive tackle Ron Edwards, the team announced.
Edwards started 11 games last year and had 16 tackles and one sack before suffering a season-ending elbow injury.
---Punter Pat McAfee was given the franchise tag by the Indianapolis Colts.
The move isn't a surprise, and the one-year, $2.9 million tender could be replaced by a long-term deal.
He had a 40.3-yard net punting average in 2012 and dropped 26 punts inside the 20 with eight touchbacks.
---G.J. Kinne is expected to join the Philadelphia Eagles' quarterback mix once he's officially released from his Arena Football League contract.
While he still needs to be formally released by the San Antonio Talons, all signs point to Kinne joining a quarterback group that includes Michael Vick, Nick Foles, Trent Edwards and Dennis Dixon.
Running back LeSean McCoy is endorsing Vick as the best candidate for the starting quarterback job.
---The Arizona Cardinals released cornerback William Gay and linebacker Stewart Bradley.
The moves will slice approximately $7 million off the Cards' salary cap, putting them in compliance with a cap that has been set at $123 million, up from $120.6 million of a season ago.
Bradley took a pay cut, from a $5 million 2012 salary to $2.5 million, just to stay on the roster.
Gay had been scheduled to make $3.2 million after a playing time escalator bumped his salary well over the original $1.475 million.