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The offseason is officially here.

According to Adam Schefter of ESPN, the Broncos and Ravens have a deal in place to send veteran quarterback Joe Flacco from Baltimore to Denver. The trade will become official on March 13, the first day of the 2019 league year.

The Ravens were expected to trade Flacco this offseason, but the Broncos weren’t widely viewed as a potential destination. However, it was Flacco who launched a desperation rainbow to Jacoby Jones at Mile High Stadium in the 2012 playoffs, forcing what would become double overtime and ultimately beating the Broncos en route to a Super Bowl XLVII championship, with Flacco winning the MVP award.

Then there’s the fact that new Broncos coach Vic Fangio worked for the Ravens from 2006 through 2008, overlapping with Flacco by two years.

Flacco is due to receive a base salary of $18.5 million in 2019. Trading him triggers $16 million in dead money for the Ravens, but creates a net cap savings for 2019 of $9.5 million.