Watson, 29, is a former second-round pick of the Raiders back in 2013. He played the final year of his four-year, $4.15 million rookie contract before signing a three-year deal worth $18.3 million with the Broncos in 2016.
Watson was set to make a base salary of $5.5 million for the 2018 season when the Broncos released him from their injured reserve earlier this month.
In 2017, Watson appeared in seven games for the Broncos and was rated by Pro Football Focus as the No. 76 offensive tackle out of 79 qualifying players.