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ENGLEWOOD, Colo. (AP) -- Jamaal Charles, the Kansas City Chiefs' all-time rushing leader, has signed with the AFC West rival Denver Broncos.

"Excited to have Jamaal Charles join the Broncos," general manager John Elway tweeted Tuesday afternoon upon signing Charles to a one-year, incentive-laden deal. "A great addition to our backfield, and we're thrilled we won't have to play against him!"

The Chiefs cut the 30-year-old running back in a cost-cutting move this winter. He played in just eight games over the last two seasons after tearing his right ACL in October 2015.

Charles ran for 7,260 yards and 43 touchdowns in nine seasons with the Chiefs, who ended Denver's five-year run as division champs last year.