Matt Moore signs with Dolphins

The Miami Dolphins are out of the Kyle Orton trade talks for now after they reached a two-year, $5 million deal with Carolina Panthers quarterback Matt Moore, a source confirmed.

Moore signed the contract Friday night, the team announced.

Moore's deal, first reported in The Oregonian, puts all Orton talks on hold. Moore will compete with Chad Henne and rookie Pat Devlin for playing time.

The Dolphins had been talking to the Broncos but never reached a trade agreement that satisfied Broncos president John Elway.

Orton's $1.5 million roster bonus activated at 4 p.m. ET, a source told ESPN's Andrew Brandt. Though trade talks aren't done, that payout makes it less likely that the Broncos will trade the quarterback.

The Dolphins also announced they had re-signed defensive lineman Tony McDaniel and has agreed to terms with wide receiver Clyde Gates and running back Daniel Thomas

John Clayton is a senior NFL writer for ESPN.com.