According to ESPN's Adam Schefter, the Denver Broncos have released veteran quarterback Mark Sanchez.
Broncos are releasing QB Mark Sanchez, per source.— Adam Schefter (@AdamSchefter) September 3, 2016
The Broncos acquired Sanchez from the Philidelphia Eagles earlier this winter for a conditional 7th round draft pick. Since Sanchez did not make the Broncos 53-man roster, they do not have to give up that pick.
This leaves second-year quarterback Trevor Siemian and Paxton Lynch as the only two quarterbacks on the roster. I'd expect the Broncos to sign a veteran like T.J. Yates in the coming days.
More on this story soon!