The Houston Texans are out of the Nnamdi Asomugha sweepstakes. But the consolation prize could end up paying off big.

The Texans have agreed to terms on a five-year deal with free agent cornerback Johnathan Joseph, according to ESPN’s Adam Schefter.

This could mean one of two things. Either the Texans removed themselves from the fight for Asomugha because they didn’t want to fork over the $12-13 million per year he’s expected to fetch, or they’ve been told that Asomugha has decided to take his talents elsewhere (in which case we should expect to hear breaking news out of New York or San Francisco in near future).

Regardless, the Texans have saved some money.

The good news (in addition to the savings) is that Joseph is a full three years younger than Asomugha. The former first-round pick played at a Pro Bowl level (despite not getting Pro Bowl love) in 2007, 2009 and parts of 2010. He has 14 interceptions in 67 career games, and he’ll immediately become the No. 1 corner in Houston.

There’s no such thing as a one-man cure for a horrible secondary, but this is a step in the right direction.