ARLINGTON, TX - NOVEMBER 26: Tony Romo #9 of the Dallas Cowboys is lead to the sidelines by team officials after being sacked by the Carolina Panthers in the third quarter at AT&T Stadium on November 26, 2015 in Arlington, Texas. Romo left the field following the play. (Photo by Tom Pennington/Getty Images)

Tony Romo reportedly has mutual interest with contender, but with one caveat

It's all speculation though until Jones makes his decision.

There seems to be no doubt that Tony Romo's preferred destination would be taking the Peyton Manning route and landing with an already supremely talented Denver Broncos team missing one key piece — a quarterback.

General manager John Elway has said all the right things, publicly backing quarterbacks Trevor Siemian and Paxton Lynch.

But the plugged in Mike Klis recently detailed there just might actually be some mutual interest from the two sides — but only "likely" as a free agent.

Romo, who turns 37 in April, has three non-guaranteed years on his contract that would pay him $14 million in 2017, $19.5 million in 2018 and $20.5 million in 2019.

But also for financial and cap purposes, the Broncos likely would only express interest in Romo if he is released. That way, the Broncos would be in better position to negotiate a reduced contract with Romo.

Romo has only played in four games and one series over the past two seasons, breaking his collarbone twice and suffering a compression fracture in his back.

Romo's trade value is likely poor at this point, and the Cowboys would be lucky to get much back for a 36-year-old (37 in April) quarterback with a serious injury history.

Judging by Romo's very public relationship with Jerry Jones, it wouldn't be a surprise to see the veteran given his walking papers. But there's no guarantee he lands in Denver.

The Broncos have a young quarterback (Lynch) that they spent a high draft pick on. After one year of on-and-off starting, it would make sense for the franchise to hand the keys over to him. And that would just be deja vu for Romo.

It's all speculation though until Jones makes his decision.