Sources informed The Athletic and 9News Denver of the moves Monday. Sanders' option is for $1.5 million guaranteed. He has a base salary of $10.15 million in 2019. Harris had a $1 million option and has a $7.9 million base salary.
Sanders celebrated the transaction by tweeting "thankful." The 31 year old wide receiver had 868 yards and four touchdowns on 71 receptions in 12 starts in 2018 for the Broncos. Sanders had 555 yards and two scores on 47 catches in 12 games in 2017.
The two-time Pro Bowl selection had his last 1,000-yard season in 2016, when he pulled in 79 catches for 1,032 yards and five scores in 16 starts for Denver. Sanders joined the Broncos in 2014 after playing the first four seasons of his career with the Pittsburgh Steelers.
Sanders indicated he wouldn't take a pay cut in February, tweeting "it ain't happening. No way Jose." on a report regarding a possible restructure of his contract.
Harris, 29, had 49 tackles, 10 passes defensed, three interceptions, a touchdown and a sack in 12 starts in 2018 for the Broncos. The four-time Pro Bowl selection and 2016 All-Pro appeared in every game for the Broncos from 2013 through 2017. Harris joined the Broncos as an undrafted free agent in 2011.