The flamboyant Sharpe will sign a four-year contract worth $13.8 million, making him the NFL's highest-paid tight end. The contract includes a $4.5 million signing bonus. Sharpe apparently gave the Broncos a chance to match the offer, but they declined. His acquisition provides the Ravens the presence in the middle of the field that coach Brian Billick's offense lacked in 1999.

Although he lacks classic tight end size and is a willing but only average blocker, Sharpe still has good speed and is adept at splitting the safeties deep up the field or finding the open spaces in a zone defense. A fractured collarbone limited him to only five games in '99 and he caught 23 passes for 224 yards and no touchdowns.

It snapped a streak of seven consecutive seasons with at least 50 receptions, a record for a tight end. Sharpe played in seven Pro Bowl games and three times went over the 1,000-yard mark. For his career, he has 552 catches for 6,983 yards and 44 touchdowns.

The Ravens also are close to an agreement to re-sign quarterback Tony Banks and that deal is expected to be finalized no later than Thursday.