The Baltimore Ravens have an agreement in principle to trade quarterback Joe Flacco to the Denver Broncos, according to a report from ESPN's Adam Schefter.

Flacco had spent his entire 11-year career with the Ravens, and was named Super Bowl MVP in 2013 when the Ravens won the Super Bowl, but lost his starting job to rookie Lamar Jackson last season.

NFL Network's Ian Rapoport reported the Broncos will send back a mid-round pick for Flacco.

In nine starts with the Ravens last year, Flacco had 2,465 passing yards and 12 touchdowns to six interceptions.

The Ravens drafted the 34-year-old 18th overall in 2008.

The Broncos signed Case Keenum to a two-year contract last year.