Former Philadelphia Eagles offensive guard Evan Mathis has found a new home with the Denver Broncos as the team signed him to a one-year contract worth $2.5 million, which could earn the 10-year pro up to $4 million if he reaches all of the stipulated play-time incentives.

The 33-year-old, two-time Pro-Bowler was released by the Eagles early in the summer as both parties have not agreed on a contract extension negotiation. He played in Philadelphia for five years where he was under contract for $25.5 million.

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Mathis also reportedly turned down a $5.5 million annual offer from an unspecified team, but chose to receive less from a contending franchise like Denver instead, as per ESPN.

The former Alabama standout would have earned $5.5 million from the Eagles this coming season if he had not been released.

"Evan Mathis is an accomplished veteran who has played at a very high level for the last several seasons," Broncos executive vice president and general manager John Elway said. "He will immediately make our team better, and we are excited to have him as part of the Denver Broncos."

The Birmingham native is expected to start at left guard as head coach Gary Kubiak attempts to install veteran presence in the team's offensive line made up primarily of rookies and less experienced players.

Mathis deliberately excused himself from the Eagles' OTAs early in the offseason as he negotiated with the team for an extension and a higher pay. He was waived by the team on June 11, with Philadelphia head coach Chip Kelly citing "money" as the main reason.

Yahoo Sports indicated that the 6-foot-5, 300-pound offensive lineman does not regret asking the Eagles for more money, as he also does not believe that it was the reason why he was released.

Meanwhile, Dan Hanzus' of the NFL's official website said that Mathis is a "huge upgrade" for the Broncos' offensive line, which included three rookies with zero experience on the NFL style of play.

Hanzus underscored that even if Mathis missed seven games last season due to a knee injury, he was still included in the Pro Bowl by January, which is said to be a testament to his skill level.

TagsNFL, NFL 2015, NFL news, NFL News 2015, NFL rumors, NFL Rumors 2015, Evan Mathis, Denver Broncos, Philadelphia Eagles