The Broncos confirmed the signing on Tuesday night and will introduce Talib on Wednesday afternoon. Adam Schefter of ESPN reported that Talib is also getting $26 million in guaranteed money.
Talib was the third-rated cornerback on the CBSSports.com free agency rankings, but might've been higher were it not for the off-field issues he's faced over the past few years.
Last year he shut down numerous high-profile offensive players with the Patriots, including Jimmy Graham.
The Broncos were reportedly "likely" to sign Dominique Rodgers-Cromartie back, but with the cash getting thrown at cornerbacks maybe that's not a guarantee. Chris Harris will be dealing with a torn ACL for a while and they needed help in the secondary.
John Elway's first move was nabbing TJ Ward on a steal of a $23 million deal. He then followed it up by landing Talib on the late-night blockbuster.
The Broncos have Peyton Manning in the twilight of his career and they're shoving their chips in the middle of the table. It's hard to blame them considering how close they were in 2013.