The Denver Broncos are expected to release running back C.J. Anderson, NFL Network’s Mike Garafolo reports.

Anderson’s release finally ends months of speculation about his future in Denver. The Broncos were reportedly interested in parting ways with the veteran running back, who had two years remaining on his contract at $4.5 million per year. But they were looking for a trade instead of an outright release.

The Broncos apparently had an agreement all set to trade Anderson to the Miami Dolphins for offensive tackle Ja’Wuan James, but the Dolphins decided to pull out of the deal. With Denver likely unable to find another deal, they finally decided to cut him.

Anderson, 27, spent his first five years in the league with the Broncos after going undrafted in 2013. He was instrumental in their Super Bowl 50 win over the Carolina Panthers in 2015 as he had 23 carries for 90 yards and a touchdown.

Anderson is coming off a career year with the Broncos as he finally got his chance to be the team's undisputed lead back. He rushed for a career-high 1,007 yards with three touchdowns. He also had 28 catches for 224 receiving yards.

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With Anderson out of the picture in Denver, the Broncos could be set to make incoming third-year back Devontae Booker their new workhorse in the backfield. Booker saw his touches limited last season with Anderson getting much of the workload, but he did have 877 yards from scrimmage and five touchdowns during his rookie year. They could also target a new running back in the draft.

As for Anderson, his release could finally open the door for him to find his way to the Dolphins. Miami currently has veteran Frank Gore and Kenyan Drake in their backfield.