Should both players pass through waivers unclaimed, they would revert to the team’s injured reserve list on Thursday.
McKay, 24, wound up signing a three-year, $1.62 million contract with the Colts as an undrafted free agent out of Cincinnati back in May of last year. He was cut loose coming out of the preseason before signing on to the Jaguars’ practice squad in November.
The Broncos signed him off of the Jaguars’ practice squad this past January and later brought him back on a future/reserve contract. However, he was cut loose shortly after this year’s NFL draft.
The Titans later signed him to a contract in June.
During his college career, McKay totaled 87 catches for 1,717 yards (19.7 YPR) and 17 touchdowns.