ENGLEWOOD, Colo. --Now, the Broncos will proceed with their next plan at quarterback.
According to various reports, Osweiler agreed to terms with the Houston Texans on Wednesday. The terms were reported to be $72 million over four years, including $37 million guaranteed.
Despite having just seven career starts, the Texans reportedly gave Osweiler more initially guaranteed money than all but eight quarterbacks, according to the numbers compiled by OvertheCap.com. Osweiler will receive more initially guaranteed money than a slew of quarterbacks, including New England's Tom Brady.
Executive Vice President/General Manager John Elway kept the lines of negotiation open, but in the end, Osweiler wanted to move on after four years in Denver.
"We've stayed true to our philosophy of building a team with players who want to be Denver Broncos and want to be here. That's been a successful approach for us," he said.
"While we did offer a very competitive and fair long-term contract to Brock, we ultimately had to remain disciplined while continuing to assemble a roster that can compete for championships."
With Osweiler gone and Peyton Manning retiring, Trevor Siemian is the only quarterback on the current roster. But there are options in free agency and the draft, and the Broncos could pursue trade avenues, as well.
"We've now turned our attention to other options at quarterback and are confident that we'll find the right player and person for our team," Elway said. "Our organization thanks Brock for his contributions and wishes him all the best."
The Broncos won Super Bowl 50 last season despite having the second-lowest team passing efficiency rating -- a combined 74.3 rating for the regular season and postseason, 13.5 points lower than the league average of 87.8. Only the then-St. Louis Rams had a worse collective quarterback rating.
Considering that the Broncos won it all with the struggles at quarterback, they like their chances of remaining a contender with even modest improvement under center. Among the various modes for roster-building, there appear to be areas where they can find it.
