The Denver Broncos have officially won the Theo Riddick sweepstakes.

According to 9News' Mike Klis, the Broncos officially signed Riddick on Saturday, subsequently placing defensive lineman Billy Winn on injured reserve to make room for the veteran running back. Riddick's deal will span just one season and cost $2.5 million with $1 million guaranteed. He can make up to $3.3 million with incentives.

The Detroit Lions waived Riddick last weekend after signing Pro-Bowl defensive lineman Mike Daniels. Riddick, a running back, played in Detroit for six seasons but was likely to see his role diminish as Kerryon Johnson, C.J. Anderson, Zach Zenner, and Ty Johnson make for the Lions' four-man group at the position heading into 2019. But, he should be a valuable piece for the Broncos defense.

Though listed as a running back, Riddick's role is that of a receiver. Throughout his career, Riddick has tallied 1,023 yards and five touchdowns as a runner, averaging 3.6 yards per carry. As a receiver, he's doubled those stats. In Detroit, the back saw 369 targets go his way and turned it into 285 receptions for 2,238 yards and 14 touchdowns, which equates to a high 77.2 percent catch rate and 7.9 yards per receptions.

Alongside Pro Bowler Phillip Lindsay, 2018 second-round pick Royce Freeman, and career pass-catcher Devontae Booker, Riddick forms an enticing four-man group at back. Lindsay and Freeman will share the bulk of the workload on a predicted 50/50 split. Booker and Riddick will be the pass-catchers out of the backfield.

But don't expect Riddick just to catch from the backfield alone. In fact, he'll see a lot of time as a mismatch slot receiver on motions — a capacity the Lions used him in. A former wide receiver at Notre Dame and listed as one last season by Pro Football Reference, he shouldn't have a tough time adjusting to that role.