Welker’s deal is worth $12 million, ESPN NFL Insider Adam Schefter reports.

Broncos executive vice president of football operations John Elway tweeted the club’s agreement with the former New England Patriot.

“Excited to have Wes join the Broncos. His production & toughness will be a great asset!” Elway wrote.

The Patriots had been negotiating with Welker leading up to free agency but the sides could not find common ground on a deal. The 31-year-old Welker played under the franchise tag and a $9.5 million salary for the 2012 season and finished with a team-high 118 catches and 1,354 yards to go with six touchdowns.

The team elected not to tag him this offseason. If they had, Welker would have received an escalated salary of $11.4 million for the 2013 season.

Welker has been a fan favorite in New England ever since he arrived via trade in 2007. His 672 receptions over six seasons (an average of 112 per season) since joining the Patriots are the most in the NFL over that span. He became the first player in NFL history with five 110-catch seasons.

Among Welker’s biggest supporters is quarterback Tom Brady, who helped the Patriots clear $15 million in cap space over the next two seasons by restructuring his deal and signing an extension.

Brady was willing to accept the deal, which was considered below market value, because of the trust that exists between the two-time Super Bowl MVP and the team. Brady felt that in giving New England this cap flexibility, a source told ESPNBoston.com, he trusted the Patriots would add the right players to finish his career with the best chance to win another championship. Now, it’s unclear whether Welker will be catching passes from Brady or from Broncos quarterback Peyton Manning.

Just two days ago, Patriots owner Robert Kraft said he hoped Welker would be “a Patriot for life, just like Tom Brady.”

Welker had a team-high eight catches for 117 yards in New England’s 28-13 AFC Championship Game loss to the Baltimore Ravens.

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A source confirmed to ESPNNewYork.com the planned tender for Cruz, which hasn’t yet officially been made by the team.

The two sides have been unable to reach an extension so the team will tender the highest RFA tender available, worth $2.879 million for this season, to Cruz.

The first-round tender also means that the Giants will have “the right of first refusal” if another team makes Cruz a lucrative contract offer. The Giants can match any deal made by another team or receive a first-round pick as compensation if they refuse to match.

The Giants also tendered safety Stevie Brown and running back Andre Brown at second-round tenders, worth $2.023 million in salary. Mara, speaking to reporters at an NFL event, said the team did not tender restricted free agent running back Ryan Torain, who still could re-sign with the team later.

The Giants want to re-sign Cruz to a long-term deal but the two sides have been apart on financial terms. Cruz’s camp will want to see how much wide receivers like the recently traded Percy Harvin, and free agents Greg Jennings and Mike Wallace will sign for soon.

The Giants are taking a risk by tendering Cruz since their cap space is somewhat limited and they still need to re-sign free agents such as left guard Kevin Boothe and tight end Martellus Bennett. The team also wants to sign Hakeem Nicks to a long-term extension with the wide receiver entering the final year of his deal.

Teams typically do not show much interest in restricted free agents but Cruz, 26, is coming off two incredibly productive seasons with a total of 168 catches for 2,628 yards and 19 touchdowns.

The Giants hope that the RFA tender will allow them to keep Cruz for this season and give them more time to negotiate a long-term extension.

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Boldin said on Saturday that Baltimore might have to do a restructuring of some sort, but to this point and his knowledge, the Ravens have not.

As for his future, Boldin told Schefter that he would speak with his family before he makes any decisions, but as far as he is concerned and knows, he is planning to play for Baltimore next season under the terms of his current contract.

Boldin is scheduled to earn $6 million in the coming season. He carries a $7.531 million salary-cap figure.

Fox Sports initially reported Saturday that Baltimore gave Boldin an ultimatum: Take a pay cut or get cut on Tuesday. USA Today Sports later reported that Boldin had rejected Baltimore’s offer but that the sides were still discussing the matter, and that Boldin is prepared to test free agency if Baltimore releases him.

ESPN and other media outlets have reported that the Ravens do want to reduce Boldin’s salary as they try to free cap space to retain free-agent linebacker Dannell Ellerbe.

The Ravens were expected to keep Boldin after the team didn’t have to use the franchise tag on quarterback Joe Flacco, who signed a six-year, $120.6 million deal.

In the playoffs, Boldin caught 22 passes for 380 yards receiving (95 yards per game) and four touchdowns. He has led Baltimore in receiving yards in each of the past three seasons since being traded from Arizona.

Boldin, 32, said last month that he would retire if he was cut by the Ravens. Since the Ravens won the Super Bowl, linebacker Ray Lewis and center Matt Birk have retired and Baltimore has released guard Bobbie Williams.

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Big hits — some legal, some not so much — also turned the outspoken five-time Pro Bowler into focal point for a league-wide crackdown on helmet-to-helmet contact.

Harrison’s outlaw image made him beloved in Pittsburgh but reviled elsewhere. His onerous contract, however, no longer worked for a team with serious salary cap issues. The Steelers released the former Defensive Player of the Year on Saturday when the two sides could not agree on a more cap-friendly deal.

“It’s been a great run but all good things must come to a end,” Harrison posted on his Twitter account on Saturday afternoon. “Thank you Steelers Nation I will miss you all!”

Pittsburgh general manager Kevin Colbert and Harrison’s agent Bill Parise had spent the last few days trying to iron out a new deal but couldn’t reach any common ground. Harrison was entering the final two years of a $51-million extension he signed in 2009 and was scheduled to make $6.57 million in 2013.

Harrison was set to make $7.6 million in 2014. By releasing Harrison, the Steelers create $5.105 million in cap space.

They’ve already put that money to good use, too.

A source told ESPN’s John Clayton that the Steelers gave $1,323,000 tender offers to four restricted free agents — running back Jonathan Dwyer, running back Isaac Redman, wide receiver Emmanuel Sanders and defensive tackle Steve McLendon.

Harrison — who turns 35 in May — will find himself looking for work for the first time since he became a fixture on the right side of Pittsburgh’s 3-4 defense in 2006.

“James has been an integral part of our success during his years in Pittsburgh and has helped us win two Lombardi trophies during that time,” Colbert said in a statement. “We appreciate all of his efforts and wish him the best.”

Harrison is the first cap move by the Steelers this offseason as they try to get under the $123 million salary cap by Tuesday, when the new league year begins. Quarterback Ben Roethlisberger and linebacker Lawrence Timmons have restructured their contracts to help get Pittsburgh under the cap number but Colbert told reporters after the Steelers finished a disappointing 8-8 in 2012 “terminations” would also be necessary.

“Sooner or later you have to pay the debt and you never want to get to a point where you have to gut your team and start over because we have to compete for a championship every year,” Colbert said in January.

This isn’t the first time the Steelers have released a star to save money. They let go wide receiver Hines Ward and linebacker James Farrior last spring, but unlike Ward and Farrior — who both retired rather than sign elsewhere — Harrison remains intent on playing in 2013.

Harrison missed the first three games of the 2012 season with a minor knee injury but was one of Pittsburgh’s steadiest performers over the second half of the year. He finished with six sacks, tied for the team lead, and a pair of forced fumbles as the Steelers finished No. 1 in total defense for the fourth time since Harrison became a starter.

“James has played a major role in the success of this organization during his time in Pittsburgh,” coach Mike Tomlin said in a statement. “I appreciate everything he has done in my six years as head coach.”

In many ways Harrison’s success is emblematic of “The Steeler Way.” Signed as an undrafted rookie free agent in 2002, Harrison spent two years on the practice squad before getting signed by the Baltimore Ravens, who sent the undersized Harrison — listed at 6-feet — to NFL Europe for some seasoning. The Ravens eventually cut him loose and Pittsburgh brought him back hoping he had matured.

It ended up being one of the better bargains in team history.

Harrison eventually blossomed into one of the league’s most feared pass rushers. He helped the Steelers win their fifth Super Bowl in 2006 and was named the AP NFL Defensive Player of the Year in 2008, when he collected 16 sacks.

Chasing their second championship in four years, Harrison put together one of the most spectacular plays in Super Bowl history, returning a Kurt Warner interception 100 yards for a touchdown on the final play of the first half in a game the Steelers eventually won 27-23.

Yet Harrison’s violent play sometimes came at a hefty price. He was fined multiple times for hits to the head.

Feeling he was being unfairly persecuted by the league, Harrison called commissioner Roger Goodell a “crook” and a “devil” during an interview with Men’s Journal in early 2011. Harrison later apologized and promised to clean up his act.

It didn’t exactly work. Harrison was suspended for a game in December, 2011, after his helmet smacked into Cleveland quarterback Colt McCoy’s facemask a moment after McCoy released the ball.

Harrison did not receive any letters from the commissioner’s office in 2012 but his physical style of play took a toll on his body. He missed all of training camp with a knee injury and admitted he had endured “a dozen” concussions over the course of his career.

The Steelers hope they have Harrison’s replacement in 24-year-old Jason Worilds, who finished with five sacks in limited action last season.

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The deal includes $19 million guaranteed.

Beatty’s agents, Alan Herman and Jared Fox, declined to confirm the deal and its details when contacted Wednesday. The two sides spent part of the weekend at the combine trying to reach an agreement.

Beatty — who turns 28 on Saturday — took his physical and now will spend the prime of his career with the Giants.

The left tackle has played in 50 games (31 starts) since being drafted by the Giants in the second round of the 2009 draft.

Beatty was a major priority for the Giants in free agency. He started 15 games this past season at left tackle despite missing most of the offseason and training camp with a back issue. With Beatty back in the fold, the Giants can focus now on re-signing starting left guard Kevin Boothe to solidify the left side of the offensive line.

Tight end Martellus Bennett is also another free agent the Giants would like to have back. General manager Jerry Reese recently released veterans such as running back Ahmad Bradshaw, defensive tackle Chris Canty and linebacker Michael Boley to clear cap space to keep young free agents like Beatty. Reese may have some more maneuvering to do to keep some of his free agents and restricted free agents like wide receiver Victor Cruz, safety Stevie Brown and running back Andre Brown.

Reese will also try to strengthen the offensive line. The line can use more depth with right guard Chris Snee, center David Baas and tackle David Diehl all undergoing offseason surgery.

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The Baltimore Sun reported talks went fine between Flacco’s agent, Joe Litna, and Ravens vice president of football administration Pat Moriarty. Talks are expected to continue as both sides try to hammer out a deal before the March 4 deadline that teams have to use their franchise tag. If no deal is reached, Flacco is expected to be tagged.

Earlier this month, Ravens general manager Ozzie Newsome said he is optimistic that the team will get a long-term deal done with the quarterback. Flacco is not under contract for the coming season. The franchise tag, which would take the 28-year-old Flacco off the free-agent market, would take $20 million of cap space this season.

Newsome said Feb. 7 that the sides were close to a deal before the season began, but it was a mutual agreement to stop negotiations until the end of the season.

Flacco, who made less than $7 million last season, is expected to become one of the NFL’s highest-paid quarterbacks. Drew Brees, at an average of $20 million per season, and Peyton Manning, who made $18 million last season, currently top the pay scale for quarterbacks.

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The Ravens and Flacco’s agent, Joe Linta, had been trading telephone calls in recent days to try to schedule the face-to-face negotiating session. Both sides will try to hammer out a deal before the March 4 deadline that teams have to use their franchise tag. If no deal is reached, Flacco is expected to be tagged.

Earlier this month, Ravens general manager Ozzie Newsome said he is optimistic that the team will get a long-term deal done with the quarterback. Flacco is not under contract for the coming season. The franchise tag, which would take the 28-year-old Flacco off the free-agent market, would take $20 million of cap space this season.

Newsome said Feb. 7 that the sides were close to a deal before the season began, but it was a mutual agreement to stop negotiations until the end of the season.

Flacco, who made less than $7 million last season, is expected to become one of the NFL’s highest-paid quarterbacks. Drew Brees, at an average of $20 million per season, and Peyton Manning, who made $18 million last season, currently top the pay scale for quarterbacks.

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The Super Bowl Most Valuable Player is not under contract for next season. Newsome said the sides were “very close” to a deal before the season began, but it was a mutual agreement to stop negotiations until the end of the season.

“I’m coming away today thinking that we can get a deal done,” Newsome said at the “State of the Ravens” season-ending news conference. “We’ve got deals done with Haloti [Ngata], JO [Jonathan Ogden], Ray [Lewis], Ray Rice, Ed Reed, [Terrell] Suggs. I’ve got a very good owner who understands the business and understands the importance of certain positions. So, I’m optimistic.”

If the Ravens can’t get a deal completed before the start of free agency, the team will put the franchise tag on Flacco. The exclusive tag, which would take Flacco off the free-agent market, would take $20 million of cap space this season.

“We’re looking to get a fair deal done with Joe,” Newsome said. “If we’re able to get a deal done, it will allow us to be able to participate more in the market if we so choose. But we understand what the priority is.”
Flacco’s agent, Joe Linta, was asked in an interview with CNBC on Tuesday whether Flacco should be the highest-paid at his position, to which he simply responded, “Yes.”

Flacco, 28, is younger than Peyton Manning (who’s earning $18 million per year) and Drew Brees ($20 million), and now has as many Super Bowl titles as each of them. Linta said those are the numbers that matter.

“When you do a contract of this magnitude, you look at what is the player’s body of work presently,” Linta told CNBC. “And what are the expectations going forward over the next four, five or six years.

“Joe wins on both accounts.”

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After releasing linebacker Michael Boley on Tuesday, the Giants cut their veteran starting running back and the versatile Canty as they try to create more cap space while also moving in a different direction following a 9-7 season that finished with no playoffs for the 2011 Super Bowl champs. The Giants could release more veterans before next month’s free agency period begins.

“I saw it coming because of the money,” Bradshaw told ESPN’s Josina Anderson. “Everything is about money I guess, so yes I was expecting it. I’m not discouraged at all. I’m just looking towards getting healthy and working with somebody else. That is all I can do. The Giants fans will always be remembered and always be loved. This is where I started and I just want to thank everybody for their support. Hopefully I’ll be back soon.”

Bradshaw, 26, rushed for 1,015 yards and six touchdowns as the team’s primary running back. However, he has had a history of battling through feet and ankle injuries and recently had surgery to have a screw replaced in his right foot, keeping him out for another eight weeks. Bradshaw has missed 12 games in his six seasons with the Giants but helped them win two Super Bowls during his New York tenure.

The Giants were projected to be $4.7 million over the salary cap for 2013 by NFL senior writer John Clayton and the team has to create space to try to keep free agents like left tackle Will Beatty and restricted free agents like Victor Cruz, Stevie Brown and Andre Brown.

Bradshaw was uncertain about his future toward the end of the season. The Giants’ 2012 first-round pick David Wilson emerged toward the end of the season and Andre Brown scored eight touchdowns this past season before breaking his leg.

Canty was due to make $6.25 million in base salary this upcoming season. He played in just nine games this past season after having knee surgery in the offseason.

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