According to ESPN Boston, Wes Welker turned down a two-year deal worth close to $15 million from another AFC team before accepting the Broncos' two-year, $12 million offer.
Per reporter Mike Reiss, Welker didn't seriously consider the offer because "the club isn't viewed as a contender." According to Reiss, talks with the Patriots reached a "breaking point" just before Tuesday's official start of free agency. The Pats offered a two-year, $10 million deal that could be worth up to $16 million through incentives, but Welker turned it down because he believed the sweeteners would be "extremely difficult to reach." The whole article is worth a read, and can be found at the link.