The contract is worth $23 million with $16.5 million fully guaranteed, according to NFL Network's Ian Rapoport. Engram will earn an average of $11.5 million per season. The 30-year-old tight end will now provide a big boost to the offense and give young quarterback Bo Nix another weapon.

Tight end Evan Engram is officially signing a contract with the Denver Broncos after being released by the Jacksonville Jaguars.

A week after the Jacksonville Jaguars cut standout tight end Evan Engram following three seasons, the Denver Broncos signed him to a two-year deal, NFL Network's Ian Rapoport reported. The deal is worth $23 million with $16.