The new league year does not officially begin until March 13, however, so the trade can not be finalized until that time.
The teams are prohibited from commenting on the deal or the terms. He was drafted 18th overall by the Ravens in 2008 and held on to the starter's role until he was sidelined by injury in Week 9 of last season.
Last April, the Ravens drafted Heisman Trophy-winning quarterback Lamar Jackson with their first-round pick.
Niner Noise listed the Broncos as one team San Francisco could trade down with in the 2019 NFL Draft. They lost, 23-17, to the Los Angeles Chargers in the playoffs. Two games earlier, in the divisional round, Flacco's Ravens beat the Broncos in double-overtime, after the quarterback completed a 70-yard touchdown bomb over Broncos safety Rahim Moore's head to tie the game with under a minute remaining in regulation.
ENGLEWOOD, Colo. - Whenever John Elway talks about a deal, a contract, a player or most anything that crosses his desk for the Denver Broncos, two words nearly always sum up his feelings about doing, or not doing, any of it.
The Broncos found themselves in the market again for a quarterback after Case Keenum's middling debut in Denver last season, when he threw for 18 touchdowns and 15 interceptions. His career-high overall grade came in 2014 and not during the Ravens' 2012 Super Bowl run, where Flacco was only slightly above-average with an overall grade of 73.3, 13th among quarterbacks. But he hasn't shown "elite" of late.
The Ravens have reportedly struck a deal to send QB Joe Flacco to the Denver Broncos, according to industry reports.
They began talks Monday and finalized Wednesday.
Keenum, 30, signed a two-year, $36 million deal before the 2018 season. True to his station throughout his National Football League career, Keenum was decent enough, though hardly world-beating, completing 62.3% of his passes and throwing 18 touchdowns to 15 interceptions.