The Denver Broncos are in the process of trading wide receiver Jerry Jeudy to the Cleveland Browns in exchange for the No. 135 (fifth round) and No. 202 (sixth round) picks of the 2024 NFL Draft, NFL Network Insider Ian Rapoport reported Saturday, per a source.
Any trade cannot be made official until the start of the new league year on March 13.
For the Broncos, the move nets them two late-round draft picks, having previously only held six selections in this year's draft, one of which being in the first two rounds. It also saves Denver $12.987 million in 2024 salary cap space, according to NFL Network Insider Tom Pelissero, money which could be used elsewhere once free agency kicks off next week.
For the Browns, Jeudy represents another weapon for quarterback Deshaun Watson to go along with Amari Cooper. The veteran WR was acquired for minimal draft capital, just as in the case of Cooper's trade to Cleveland two years ago.
Jeudy was drafted by the Broncos with the No. 15 overall pick in the 2020 NFL Draft, and had 211 catches for 3,053 receiving yards and 11 touchdowns in his four seasons in Denver. However, he never eclipsed 1,000-yard receiving yards mark, and had just two touchdown catches on 758 yards in 2023.
Due to his middling performance compared with other WRs in the same draft class, in the last year Jeudy was plagued by rumors that he was on the trade block. While the Broncos ended up picking up his fifth-year option last offseason and held onto him throughout the year, it appears they've decided now is the time to move on from the 24-year-old wideout as they work through a full revamp of the offense.
The Broncos already made major news this week when they announced on Monday that they had informed quarterback Russell Wilson of their intention to release him at the start of the league year.
Jeudy's departure opens the door for other Broncos wide receivers to see a bigger impact, namely Marvin Mims Jr. Head coach Sean Payton said recently he expected to see more of the 2023 draft pick's potential in his second year, and he should now be in line to take on a more prominent role alongside Courtland Sutton after recording 22 catches for 377 yards as a rookie.
Meanwhile, Jeudy gets a fresh start with a new team going into his last year under his rookie contract before a potential free agency stint.
