Source: Broncos to acquire quarterback Joe Flacco from Baltimore

The Broncos will complete a trade next month for Baltimore Ravens quarterback Joe Flacco, a source confirmed this morning.

ESPN was first to report the deal.

What the Broncos will give up for Flacco is unclear although NFL Network reported that it will be a mid-round pick. The Broncos have an extra fourth-round pick from the Demaryius Thomas trade.

Flacco, 34, lost his starting job to rookie Lamar Jackson and was long expected to move on via trade or a release.

A first-round draft pick in 2008 (No. 18 overall), Flacco carries a $26.5 million salary cap hit on his current contract.

Flacco is 96-67 as a regular-season starter and before his injury after nine games in 2018, had started all 16 games in nine of his first 10 years. He helped the Ravens to a Super Bowl XLVII win over San Francisco.

The Broncos have Case Keenum under contract for 2019 at $21 million. The Broncos would save $11 million if they cut him before June 1.

Last year, the Washington Redskins and Kansas City Chiefs agreed on a trade for quarterback Alex Smith (going to the Redskins) well before the start of the league year in mid-March.