Dalton was expected to be on his way out of Cincinnati after the Bengals selected Joe Burrow first overall in the 2020 NFL Draft.
A second-round pick out of TCU in 2011, the three-time Pro Bowler has started all 133 games he's played in since entering the NFL while missing only 11 contests.
The veteran passer was rumored to be on the trade block this offseason, as it was assumed ahead of the draft that Cincinnati would select Burrow to be its next franchise quarterback. The 32-year-old had been linked to the New England Patriots, as well as the Chicago Bears and Indianapolis Colts before the latter two made other additions at the position.
A solid if unspectacular leader for the Bengals' offense, Dalton amassed a 70-61-2 record with Cincinnati but failed to win a single postseason game in four starts. He's completed 62% of his career pass attempts for 204 touchdowns and 118 interceptions.