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Posted by ESPN.com's Bill Williamson
Smith reportedly will announce his retirement at the press conference. The team declined to confirm the press conference on Wednesday, however, sources said that Smith would make the announcement Thursday. The move is a formality. Smith, 38, did not play last year because of a hip surgery. He had a second procedure on the hip this winter.
Smith has 849 receptions for 11,389 yards over his 13-year career, all in Denver.