According to Adam Schefter of ESPN, the Denver Broncos and former Kansas City Chiefs running back Jamaal Charles have agreed to terms on a one-year contract.

Shefter broke the news in a series of tweets on Tuesday afternoon shortly after Charles had returned to the Broncos’ Englewood headquarters after undergoing a physical.

Broncos general manager John Elway confirmed the signing moments later.

About 20 minutes prior to Schefter’s report, James Palmer of NFL Network tweeted that Charles had left the facility to undergo medical evaluations then returned to the facility – presumably to finalize the deal.

According to Ian Rapoport of NFL Network, the deal is worth up to $3.75 million.

We will continue to update this story as more details about the deal emerge.