The deal is done and Wes Welker is a Bronco, leaving only the question of what it cost to get him to trade in Tom Brady for Peyton Manning.
Adam Schefter of ESPN reports that it is a two-year, $12 million deal for Welker. That supports the evidence that this isn’t a great market for slot receivers and it also supports the notion that there wasn’t much reason for the Patriots to use their franchise tag on Welker this year.
It would have cost $11.4 million to keep Welker via the tag, just a bit less than what the Broncos are paying for two years of his services. It would seem that the Patriots didn’t even think he was worth that much, given reports earlier on Wednesday that their offer prompted Welker to look elsewhere for a better deal and by reports later Wednesday that the Pats passed on an opportunity to up their offer after Welker spoke to Denver.