The Denver Broncos "likely would only express interest in Romo if he is released," according to KUSA's Mike Klis. A source told Klis that the team does not dismiss bringing in the Dallas Cowboys veteran "providing the situation reaches the point where Romo is no longer Cowboys' property."
Romo, 36, is due $14 million next season, $19.5 million in 2018, and $20.5 million in 2019. All three remaining years on the deal are non-guaranteed.
While Broncos general manager John Elway remains to back Trevor Siemian and Paxton Lynch, he has shown interest in other quarterback options in the past. Elway tried to acquire San Francisco 49ers' Colin Kaepernick last season. The Broncos actually had a deal in place with the 49ers quarterback, but the two parties could not agree on contract terms.
"With Colin, I thought we were really close," Elway told MMQB's Peter King last April. "That one surprised me a little."
Romo, who has an extensive injury history as of late, sat out last season after suffering a compression fracture in a vertebra. He eventually lost his job to rookie Dak Prescott.
Last week, MMQB's Andrew Brandt reported that he doesn't think there is a large market for the aging gunslinger.
"As accomplished a player as Tony Romo is, I don't see a robust market for his services," Brandt reported. "At this point in his career, which has recently been dominated by injuries, he cannot be counted on as a starting quarterback in 2017, and trade offers will reflect that."
If Jones hangs on for a trade, Romo could garner an early-round pick. While Romo says that he plans to continue his career, a writer for the Cowboys' official website said that he thinks retirement is an option for Romo. ESPN's Todd Archer reported earlier this month that he expects the Cowboys to release Romo.
"There's only one that can make that decision, and there's been no decision made," Jones told The Fan KRLD-FM earlier this month. "Don't think for one minute if you see something written or something said about what and where Romo is going to be, relative to our team, that there's any credibility to it."
If the Cowboys designate Romo as a post-June 1 cut, it can spread out his $24.7 million cap hit over two years, leaving it some space to improve the team defensively.
Romo, a four-time Pro Bowl selection, has 248 touchdowns, 117 interceptions, and a 97.1 quarterback rating, while posting a 78-49 career record as a starting quarterback. In his last full season, he led the NFL with a 69.9 completion percentage while tossing 34 touchdowns and nine interceptions.