UPDATE: Willis McGahee officially signed with the Broncos on Sunday. There was miscommunication between the two sides regarding this deal Friday, with the Broncos expected to audition running backs over the weekend. John Elway tweeted: “Willis McGahee has officially signed and is a Bronco. He’s a true pro who will help us on the field and in the locker room.”
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Former Ravens RB Willis McGahee agreed to terms Friday with the Broncos, according to a league source.

Broncos coach John Fox has cited the need for a running back to pair with Knowshon Moreno as an offseason priority, and that comes in the form of McGahee, who was a salary-cap casualty in Baltimore. The Broncos are hamstrung by finances — at some point, they still have to address new contracts for OT Ryan Clady and WR Brandon Lloyd – making McGahee an attractive option.

McGahee, 29, has scored 24 touchdowns the last three seasons in what was mostly a supporting role to Ray Rice in Baltimore.

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