According to ESPN.COM and AP, Derek Anderson has agreed to a multi-year contract to remain with the Browns. We haven't been able to find this on Cleveland.com or the Browns website, but it is on ESPN.com. More details to follow as they come available.
EDIT: It's now up on Cleveland.com
Derek Anderson Signs - Cleveland.com
Quarterback Derek Anderson has agreed to a multi-year contract with the Browns, the Associated Press reported Friday morning, citing sources.
Terms of the deals were not immediately available and the Browns have not confirmed the report.
Anderson became a restricted free agent at 12:01 Friday morning after failing to reach an agreement by that time. But he was only available to other teams for a matter of hours before reportedly agreeing to terms with the Browns.
General Manager Phil Savage said during a press conference on Thursday that if Anderson had received an offer from another team, the Browns probably wouldn't have been able to match it. If he did sign with another team, the Browns would have received a first- and third-round pick as compensation.
The Browns offer as of Thursday afternoon was worth $20 million over three years, including about $10 million guaranteed. But the Browns may have increased their offer to get the deal consummated.
The re-signing of Anderson sets up a training camp battle between Anderson and Brady Quinn for the starting quarterback job. A source close to Quinn said he has every intention of winning the job in camp.
Savage said Thursday that the Browns could win with either Quinn or Anderson.
The signing does not preclude the Browns from trading Anderson before the draft. They are still without a No. 1 pick because they used it last season to move up to select Quinn.