Joe Flacco agrees with Colts on one-year deal, sources say - ESPN

The Indianapolis Colts and veteran quarterback Joe Flacco have reached agreement on a one-year deal worth up to $8.7 million, sources told ESPN's Adam Schefter.

Flacco, who played for the Cleveland Browns last season and won NFL Comeback Player of the Year honors, will receive $4.5 million guaranteed in the deal, according to sources.

After a season-ending shoulder injury to starting quarterback Deshaun Watson, Cleveland signed Flacco to its practice squad Nov. 20.

Two weeks later, Flacco made his first start. He went on to become the first quarterback in NFL history to throw for over 250 yards and multiple touchdowns in his first five games with a new team.

He also propelled the Browns to a four-game winning streak and the No. 5 seed in the AFC playoffs. He finished the regular season with 1,616 yards, 13 touchdowns and 8 interceptions in five games.

Cleveland, however, fell in the first round of the postseason to the Houston Texans. Flacco threw pick-sixes on back-to-back possessions in the second half of the 45-14 defeat.

Flacco, 39, won the Super Bowl with the Baltimore Ravens in 2013 and was named Super Bowl MVP. He's thrown for 43,936 yards and 245 touchdowns in a career that also includes time with the Denver Broncos and New York Jets.

ESPN's Jake Trotter contributed to this report.