Romo has yet to file retirement papers and doesn't have any immediate plans to do so, ESPN.com's Todd Archer reports.

EDGE Analysis

Despite reaching an agreement with CBS to serve as the network's No. 1 color commentator for NFL games, Romo seemingly isn't quite ready to shut the door on the possibility of playing one more season. He was released by the Cowboys last week, giving him the freedom to sign with any team if he ultimately decides to play. While it seems Romo's intention is to focus on his new career in broadcasting, a desperate team with a contending roster might be able to woo him away with an offer at some point between the upcoming draft and Week 1. The Texans, in particular, might be willing to offer him a hefty one-year contract if they don't select a quarterback early in the draft.

Romo was released by the Cowboys on Tuesday, Todd Archer of ESPN.com reports.

EDGE Analysis

Romo will be designated as a post-June 1 release, meaning the Cowboys won't receive credit on the salary cap until June 2. In doing so, the Cowboys will save $14 million against the cap in 2017 but will still have to pay the veteran quarterback $10.7 million next season. If Dallas released Romo outright on Tuesday, they would only save $5.1 million against the cap and would have to pay Romo $19.6 next season. The release will free up enough cap space so that the Cowboys will not have to restructure the contracts of Dez Bryant or Tyrone Crawford, moves the team was willing to make on a tight budget this offseason. Romo has already reached a verbal agreement with CBS to be the No. 1 color commentator alongside Jim Nantz. He leaves the Cowboys as the team's all-time leader in passing touchdowns, passing yards, and passer rating.

Romo is leaving football to begin a career in broadcasting, ESPN.com's Todd Archer and Adam Schefter reports.

EDGE Analysis

One of the biggest storylines of the offseason finally meets its conclusion, with Romo opting for the broadcast booth rather than a farewell tour with the Texans or Broncos. The Cowboys plan to release him Tuesday, but it's unclear if Romo will actually file retirement papers, as he may want to keep his options open for at least a few more months. His decision likely was motivated by health concerns, having made just five appearances over the past two seasons. With Romo out of the picture, Houston likely will set its sights on another quarterback -- be it a rookie or veteran -- to provide some competition for Tom Savage and Brandon Weeden. The Broncos seemingly gave up on Romo a while back, with team officials suggesting for the past few weeks that they're comfortable having Trevor Siemian and Paxton Lynch compete for the starting job.

Romo has permission to be in contact with general managers league-wide to schedule a workout, visit or physical with interested parties, NFL.com reports.

EDGE Analysis

Romo's clearance to pursue interested teams is the latest development in him parting ways with the Cowboys this offseason. However, whereas Romo was at one point expected to be released, it appears Dallas is exploring avenues to increase its likelihood of instead being able to trade him. Given Romo's history of back problems, prospective suitors will understandably want to have their respective medical staffs check the quarterback's condition before making any move for him, so in granting teams and Romo permission to communicate, Cowboys owner and general manager Jerry Jones seems to be displaying the 36-year-old even more prominently in the shop window. At the moment, it's unclear how soon to expect movement on Romo's situation, but this latest layer at least figures to expedite the process.

Owner/general manager Jerry Jones set a deadline of "before training camp" to resolve Tony Romo's situation, Albert Breer of SI.com reports.

EDGE Analysis

The Tony Romo saga is growing interminable by the week, with neither party determined to cede ground on their respective demands. What they may be is known to a small inner circle, but the two teams most commonly linked to Romo this offseason are the Broncos and Texans, both of whom have less than desirable quarterback situations at the moment. Romo may also be considering television, as FOX and CBS have been making attempts to add him to their rosters, according to Adam Schefter of ESPN. Jones seemingly acknowledged the scope of Romo's reality, stating that the quarterback is "doing great" and "has options," per Tom Pelissero of USA Today. As the waiting game goes on, it's unclear at this point if Romo will be suiting up for NFL action or the TV studio in the 2017 campaign.

Broncos head coach Vance Joseph said the team has not had any discussions about Romo, David Helman of the Dallas Morning News reports.

EDGE Analysis

The Broncos maintain that they aren't interested in Romo, who may thus be left to decide between the Houston Texans and a career in broadcasting with FOX or CBS. It's possible the Broncos are denying interest in an effort to convince the Cowboys to release their veteran quarterback, but it seems more likely that Denver actually does prefer its in-house options, Trevor Siemian and Paxton Lynch.

Romo may be mulling offers to retire and take up a broadcasting career, Vince Langford of the Ft. Worth Star-Telegram reports.

EDGE Analysis

Both FOX and CBS are said to be interested in having Romo become an analyst and, with his football future still in limbo while he remains property of the Cowboys, a less physically demanding job might be appealing for the 37-year-old. The Texans remain the most likely destination for Romo if he does keep playing, but for the moment the Dallas and Houston front offices are locked in a game of chicken, with Jerry Jones unwilling to part with his long-time QB without some sort of compensation. If neither team blinks soon, Romo may take the decision out of their hands.

The Cowboys are seeking to trade Romo to either the Broncos or Texans, Chris Mortenson of ESPN reports.

EDGE Analysis

There was a widespread belief that the Cowboys would release Romo at the start of the new league year Thursday, per Adam Schefter of ESPN. Having said that, Romo's contract is quite amenable for cap purposes, with a $14 million base salary in 2017 and veritable team options of $19.5 million and $20.5 million for the next two campaigns. If the Cowboys are unable to work out a trade, the Broncos and Texans are the favorites to land the soon-to-be 37-year-old quarterback as a free agent.

The Cowboys are expected to release Romo on Thursday, Adam Schefter of ESPN.com reports.

EDGE Analysis

The Cowboys would ideally prefer to receive compensation of some form for their long-time quarterback, but Romo's age (37 in April) and voluminous medical chart likely hindered the quest for an acceptable deal. With a number of QB-needy teams ready to open their coffers, he shouldn't have much difficulty landing a starting gig elsewhere. His success next season will be tied to the new weapons around him, but for a player with just five appearances over the last two years, there's no telling how the next chapter of his career will proceed.

Romo's future team remains uncertain, as does the manner in which he'll inevitably leave the Cowboys this offseason, ESPN's Todd Archer reports.

EDGE Analysis

Romo, to no surprise, was reportedly a hot topic at the NFL Combine, where executives from across the league discussed what his future may hold. While it's widely agreed that Romo is expected to leave Dallas this offseason, it's unclear how the Cowboys will go about moving their former franchise quarterback on. The team could trade or release Romo, but a course of action is not thought to have been decided from Romo and Cowboys owner and general manager Jerry Jones' one meeting since the season ended. As a result, elements of uncertainty continue to surround Romo, leaving his 2017 fantasy outlook to be determined.