After losing his starting job to rookie quarterback Trevor Siemian, Mark Sanchez is reportedly being forced by the Denver Broncos to take a significant pay cut. If he doesn't he could end up being waived or traded to the Dallas Cowboys, who are also in need of a quarterback for their opening games for the 2016-2017 NFL Season.

Sanchez joined the Broncos in March of this year to serve as the replacement of Peyton Manning and Brock Osweiler. Broncos fans might remember that Manning retired after leading the team to a Super Bowl victory while Osweiler, his backup QB, left the team to sign with the Houston Texans.

After the Broncos drafted Paxton Lynch earlier this year, there have been rumors that he might replace Sanchez as the team's main passer. But, through internal competitions and the preseason games, it seems the Denver organization has narrowed down its choice for starting quarterback by picking Siemian over Lynch and Sanchez, leaving the latter as a third stringer.

At Sanchez's current position, the Broncos feel that he is not worth the money that they will pay him next season, which is around $4.5 million. As a solution, the team wants Sanchez to take a pay cut. Since the QB has $1 million guaranteed on his salary, making him take a cut means the Broncos will be able to save $3.5 million in the upcoming season, Sportige reported.

If he refuses to alter his contract, the Broncos could resort to trading him. One possible destination for Sanchez would be the Cowboys. Last week, the Dallas franchise' quarterback Tony Romo got sidelined after suffering a back injury during a preseason game. Since he will not be able to play for two months, that means the Cowboys will have to enter the regular season without him, according to NFL.com.

Bringing in Sanchez could solve this issue for them.

However, Sanchez will most likely take the pay cut that take the risk of getting traded to another team. The Broncos will also probably refuse to let go of Sanchez because of his veteran status.

Sanchez has been playing professionally for the NFL since 2009. With Siemian handling the starting QB position, the Broncos still need a veteran player who can mentor him and guide him on the field.