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Tony Romo is retiring from the NFL and will become a broadcaster

The Tony Romo saga is over.

Tony Romo is retiring from the Dallas Cowboys and the NFL, according to several reports, including ESPN's Adam Schefter.

According to Schefter, Romo will be released by the Cowboys on Tuesday and Romo will accept a position as a broadcaster for one of the networks that covers the NFL.

Several teams were expected to be interested in signing Romo if he had been released by the Cowboys and had chosen to continue playing. The Denver Broncos and Houston Texans were considered the favorites to land Romo.

RELATED: Tony Romo through the years

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Tony Romo gets crushed
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Tony Romo gets crushed
DALLAS, TX. October 27: Dallas Cowboys quarterback Tony Romo (9) is sacked by Washington Redskins inside linebacker Keenan Robinson (52) and injures his back in the third quarter at AT&T stadium on October 27, 2014 in Dallas, TX. (Photo by Jonathan Newton / The Washington Post via Getty Images)
DALLAS - OCTOBER 27: Dallas Cowboys quarterback Tony Romo (9) reacts after getting called for intentional grounding with less then twenty seconds lectin the fourth quarter during the game between the Washington Redskins and the Dallas Cowboys at AT& T Stadium on Monday, October 27, 2014. The Washington Redskins defeated the Dallas Cowboys 20-17 in overtime. (Photo by Toni L. Sandys/The Washington Post via Getty Images)
DALLAS, TX. October 27: Dallas Cowboys quarterback Tony Romo (9) is tended by training staff after injuring his back in the third quarter after he was sacked at AT&T stadium on October 27, 2014 in Dallas, TX. (Photo by Jonathan Newton / The Washington Post via Getty Images)
DALLAS - OCTOBER 27: Dallas Cowboys quarterback Tony Romo (9) is sacked for a thirteen yard loss by Washington Redskins outside linebacker Ryan Kerrigan (91) at the end of the second quarter during the game between the Washington Redskins and the Dallas Cowboys at AT& T Stadium on Monday, October 27, 2014. (Photo by Toni L. Sandys/The Washington Post via Getty Images)
DALLAS, TX. October 27: Washington Redskins inside linebacker Perry Riley (56) sacks Dallas Cowboys quarterback Tony Romo (9) during the first quarter at AT&T stadium on October 27, 2014 in Dallas, TX. (Photo by Jonathan Newton / The Washington Post via Getty Images)
DALLAS, TX. October 27: Washington Redskins strong safety Brandon Meriweather (31) sacks Dallas Cowboys quarterback Tony Romo (9) in the first quarter at AT&T stadium on October 27, 2014 in Dallas, TX. (Photo by Jonathan Newton / The Washington Post via Getty Images)
ARLINGTON, TX - OCTOBER 27: Quarterback Tony Romo #9 of the Dallas Cowboys walks off the field after the Washington Redskins beat the Cowboys 20-17 in overtime at Cowboys Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Quarterback Tony Romo #9 of the Dallas Cowboys walks off the field after the Washington Redskins beat the Cowboys 20-17 in overtime at Cowboys Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
Dallas Cowboys quarterback Tony Romo (9) loses the ball when blitzed by Washington Redskins safety Brandon Meriweather (31) during the fourth quarter on Monday, Oct. 27, 2014, at AT&T Stadium in Arlington, Texas. (Rodger Mallison/Fort Worth Star-Telegram/MCT via Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is knocked to the ground by Brandon Meriweather #31 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
Dallas Cowboys quarterback Tony Romo (9) is in pain after a hit by Washington Redskins inside linebacker Keenan Robinson (52) during third quarter on Monday, Oct. 27, 2014, at AT&T Stadium in Arlington, Texas. (Max Faulkner/Fort Worth Star-Telegram/MCT via Getty Images)
Dallas Cowboys quarterback Tony Romo (9) is hit by Washington Redskins inside linebacker Keenan Robinson (52) on Monday, Oct. 27, 2014, at AT&T Stadium in Arlington, Texas. (Max Faulkner/Fort Worth Star-Telegram/MCT via Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys leaves the field for the dressing room after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is attended to by team personnel after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)
ARLINGTON, TX - OCTOBER 27: Head coach Jason Garrett of the Dallas Cowboys and team personnel attend to Tony Romo #9 of the Dallas Cowboys after he was sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)
ARLINGTON, TX - OCTOBER 27: Head coach Jason Garrett of the Dallas Cowboys and team personnel attend to Tony Romo #9 of the Dallas Cowboys after he was sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is helped from the field by team personnel as head coach Jason Garrett watches during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is attended to by team personnel after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is attended to by team personnel after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)
ARLINGTON, TX - OCTOBER 27: Head coach Jason Garrett of the Dallas Cowboys and team personnel attend to Tony Romo #9 of the Dallas Cowboys after he was sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys leaves the field for the dressing room after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys leaves the field for the dressing room after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys leaves the field for the dressing room after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Team personnel attend to Tony Romo #9 of the Dallas Cowboys after he was sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys lays on the ground after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys lays on the ground after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys is escorted from the field after being sacked by Keenan Robinson #52 of the Washington Redskins during the second half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Tony Romo #9 of the Dallas Cowboys gets up after being sacked by Ryan Kerrigan #91 of the Washington Redskins during the first half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Ryan Kerrigan #91 of the Washington Redskins sacks Tony Romo #9 of the Dallas Cowboys during the first half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Ryan Kerrigan #91 of the Washington Redskins sacks Tony Romo #9 of the Dallas Cowboys during the first half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Ryan Kerrigan #91 of the Washington Redskins sacks Tony Romo #9 of the Dallas Cowboys during the first half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Ryan Kerrigan #91 of the Washington Redskins sacks Tony Romo #9 of the Dallas Cowboys during the first half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Ryan Kerrigan #91 of the Washington Redskins sacks Tony Romo #9 of the Dallas Cowboys during the first half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
ARLINGTON, TX - OCTOBER 27: Ryan Kerrigan #91 of the Washington Redskins reacts after sacking Tony Romo #9 of the Dallas Cowboys during the first half at AT&T Stadium on October 27, 2014 in Arlington, Texas. (Photo by Tom Pennington/Getty Images)
PHILADELPHIA, PA - SEPTEMBER 20: Tony Romo #9 of the Dallas Cowboys looks to pass in the second quarter against the Philadelphia Eagles on September 20, 2014 at Lincoln Financial Field in Philadelphia, Pennsylvania. (Photo by Elsa/Getty Images)
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Ian Rapoport of the NFL Network reports that Romo has broadcasting offers from CBS and Fox, "among others." Adam Schefter and Todd Archer of ESPN report that he also has an offer from NBC and that Romo could accept one of the offers as early as Tuesday.

According to Schefter, Romo's decision "came down to health." Romo played in just five games total over the last two seasons as he was sidelined with injuries to his back and his collarbone.

By releasing Romo, the Cowboys will free up $14.0 million salary cap space. Romo will now count as $10.7 million against the cap this season, down from the projected $24.7 million if had remained on the roster. The Cowboys will also take an $8.9 million cap hit in 2018.

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