The Denver Broncos, with Peyton Manning retiring and heir-apparent starter Brock Osweiler signing with the Houston Texans this week, acquired veteran quarterback Mark Sanchez from the Philadelphia Eagles on Friday.
The Eagles will receive a conditional late-round pick in the 2017 NFL Draft, the Broncos announced. The draft pick headed to Philadelphia is a seventh-round pick, according to multiple reports.
"Acquired QB Mark Sanchez for a conditional '17 pick. He brings veteran leadership & will compete. This is the 1st step in our process," executive vice president of football operations and general manager John Elway wrote on Twitter.
Trevor Siemian was the only quarterback on the Broncos' roster after Manning retired Monday and Osweiler bolted to Houston on Wednesday when free agency got underway. Osweiler's four-year deal with the Texans is worth $72 million, with $37 million guaranteed.
Sanchez, 29, is set to earn $4.5 million in base salary in 2016, with $1 million of that guaranteed.
Sanchez is an eighth-year player who spent his first seven seasons with the New York Jets (2009-13) and Philadelphia (2014-15). He was selected by the Jets with the fifth overall pick in the 2009 draft from the University of Southern California.
Starting 72 of 75 career regular-season games, the 6-foot-2, 225-pound Sanchez has passed for 15,126 yards with 86 touchdowns and 84 interceptions. He also has rushed 165 times for 451 yards with 13 touchdowns.
Sanchez started six postseason games -- all on the road -- during the 2009-10 seasons, leading the Jets to consecutive AFC Championship Game appearances while passing for 1,155 yards with nine touchdowns and three interceptions.
In his four seasons playing for the Jets, Sanchez produced a 37-31 overall record as a starter. He missed the entire 2013 season after suffering a preseason shoulder injury.
Signed by the Eagles as a free agent in 2014, Sanchez started 10 of 13 games played in his two seasons with the team, passing for 3,034 yards with 18 touchdowns and 15 interceptions.