Tony Romo and CBS Sports have agreed to part ways following the former quarterback's OWI arrest, ESPN reported.

Both sides reached a financial settlement on the remaining balance of his lucrative contract.

Roughly $72 million remained on Romo's original deal, according to reports.

The New York Times said the exit ends a backward spiral in a job Romo began with great promise.

Cowboys owner Jerry Jones has said Romo is 'just getting started,' NBC Sports reported.

The high-profile exit reshapes NFL game analysis on major TV networks.

Industry experts expect announcements about CBS's broadcasting roster and a replacement analyst.

Read the full article on Tony Romo's exit from CBS Sports.