The Broncos informed Joe Flacco he is being waived with a "failed physical designation," the team confirmed on Friday.
Flacco is the latest former starting quarterback to enter free agency, along with Jameis Winston and Andy Dalton.
The Delaware product was traded from the Ravens to the Broncos in February 2019. Flacco struggled in his line season with Denver, going 2–6 in eight starts. Rookie Drew Lock logged five starts for Denver, and third-string quarterback Brandon Allen started three games.
Flacco is 98–73 in 171 career starts after 11 years in Baltimore and one in Denver. He ranks No. 11 in touchdown passes and No. 9 in passing yards since entering the league in 2008.
The Broncos finished second in the AFC West in 2019 at 7–9. They have not reached the playoffs in each of the last four seasons.
Flacco led the Ravens to a Super Bowl XLVII win in 2013.