According to Field Yates, the Broncos restructured the contract of recently acquired WR Jerry Jeudy to create over $10 million in available cap space.
Cleveland traded its fifth and sixth-round draft picks in the 2024 draft in exchange for Jeudy this week. He’s set to make a salary of $12.978 million next season under his fifth-year option.
Jeudy, 24, is a former first-round pick of the Broncos back in 2020 out of Alabama. He finished out the fourth year of his four-year, $15.192 million deal that included an $8.61 million signing bonus.
The Broncos picked up Jeudy’s fifth-year option for the 2024 season last year worth $12.978 million fully guaranteed. Denver will save this amount against the cap as Jeudy’s contract will be taken on by the Browns.
In 2023, Jeudy appeared in 16 games for the Broncos and caught 54 passes for 758 yards receiving and two touchdowns.
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