The Denver Broncos will rescind the restricted free agent tender on running back Phillip Lindsay, allowing the 26-year-old to hit free agency, his agent announced Thursday.

"After a great conversation with the Broncos, it's been mutually decided that rescinding the RFA Tender is best for both Phillip Lindsay and the team," agent Mike McCartney wrote on Twitter. "It's been a great three years in Denver."

Lindsay was named to the Pro Bowl in his rookie season after rushing for 1,037 yards and nine touchdowns. The undrafted free agent followed that season up with 1,011 yards and seven touchdowns in his sophomore campaign before his production dipped last year when he finished with 502 yards and a touchdown in 11 games.