Broncos' cap-clearing efforts continue with trade of veteran WR

Jerry Jeudy is heading to Cleveland. The Browns and Broncos have agreed to a deal for the wide receiver, according to ESPN’s Adam Schefter. Denver will receive a 2024 fifth- and sixth-round pick from Cleveland, per NFL Network’s Tom Pelissero. The deal will become official on Wednesday.

Jeudy has seemingly been involved in trade talks for more than a year, and we heard that the Broncos were actively fielding offers for the receiver prior to the trade deadline. Schefter notes that the Browns were among the teams that made a run at Jeudy last season, with NFL Network’s James Palmer noting that Cleveland’s front office previously thought the price was too high. The Broncos apparently reduced their demands, leading to this agreement.

According to ESPN’s Jeremy Fowler, the front office recently indicated that it was “warming up” to trading Jeudy (and, at the same time, presumably dropping their asking price). According to Fowler, the Jets and Patriots were among the teams that also expressed interest in the receiver before he was dealt to the Browns.

The former first-round pick never developed into a top-end receiver during his time in Denver, but that was partly due to inconsistent play from the quarterback position. Jeudy followed up a solid rookie season with a disappointing sophomore campaign, but he seemed to bounce back in 2022. Jeudy finished that season with 67 catches for 972 yards and six touchdowns, leading to the Broncos picking up his fifth-year option.

However, after emerging as a trade candidate in 2022, the talks picked up steam in 2023. Jeudy was constantly mentioned alongside teammate Courtland Sutton in trade rumors, but the Broncos ultimately decided to hang on to both of their top receivers. Jeudy wasn’t able to follow up on his promising 2022 campaign, as the wideout finished 2023 with 54 catches for 758 yards and two touchdowns in 16 games (11 starts). He finished the season ranked 62nd on Pro Football Focus’ ranking of 128 qualifying wideouts.

With the Broncos moving on from Russell Wilson, the organization will be featuring a new-look offense in 2024. That divorce probably contributed to the organization’s decision to finally rip off the Jeudy Band-Aid, but there were also financial reasons to move on from the former first-round wideout. The cash-strapped Broncos will clear around $13M with the trade, as Jeudy’s fifth-year option was fully guaranteed.

Focus will now shift to Sutton, who will likely continue to be on the trade block. Marvin Mims will also be eyeing a larger role heading into 2024. As Palmer notes, Sean Payton has made it clear that he wants the 2023 second-round pick on the field, but the coach believed the wideout was being blocked on the depth chart by Jeudy. This trade should clear Mims up for a significant role next season.

Jeudy will now look to rehabilitate his value in Cleveland before hitting free agency next offseason. With the Browns having made a massive commitment to Deshaun Watson, Cleveland’s front office has done everything in its power to surround the QB with intriguing targets.

The Browns traded a fifth-round pick to have Amari Cooper lead their depth chart, and they later swapped a second-round pick for a third-rounder in order to acquire Elijah Moore. The organization has once again looked to add a target without giving up significant draft capital, but its offensive hopes will still depend on Watson’s ability to return to his previous form.