Welker agrees to terms with Broncos

Receiver Wes Welker has agreed to terms with the Broncos, the club announced.

John Elway tweeted: "Excited to have Wes join the Broncos. His production & toughness will be a great asset!"

ESPN NFL Insider Adam Schefter reported that Welker will earn $12 million as part of the two-year deal.

More on this to come.