Broncos replace Jerry Jeudy by overpaying veteran with team's limited funds

Free agent wide receiver Josh Reynolds signed a two-year, $14 million with the Denver Broncos, according to ESPN's Adam Schefter. He will join a wide receiver corps led by Courtland Sutton, Marvin Mims Jr., and Tim Patrick.

Reynolds will fill the void left by the departure of wide receiver Jerry Jeudy, who Denver traded to the Cleveland Browns earlier this month. Jeudy received a three-year, $58 million contract from Cleveland. That lucrative price tag was likely outside of the Broncos budget, which would have made it difficult to keep Jeudy in Denver when his contract expired next offseason.

The Broncos have approximately $18 million in salary cap space, although a significant portion of that will be used to sign their incoming rookie class from the 2024 NFL Draft.

Broncos sign former Lions WR Josh Reynolds to replace Jerry Jeudy

Jeudy is only 24 years old, but the former Alabama wideout has struggled since he was selected with the No. 15 overall pick in the 2020 NFL Draft. Compared to Jeudy, Reynolds provides the Broncos with a reliable option for a fraction of the cost.

In 2023, Jeudy finished with 54 receptions for 758 yards and two touchdowns on 87 targets. Reynolds had 40 receptions for 608 receiving yards and five touchdowns on 64 targets.

Reynolds spent the first four years of his career with the Los Angeles Rams, who selected him in the fourth round of the 2017 NFL Draft. Reynolds was claimed from waivers by the Detroit Lions after a short stint with the Tennessee Titans in 2021. He found success in Detroit and signed a two-year extension with the Lions before the 2022 season.

At the annual league meetings in Orlando, Lions general manager Brad Holmes said the team still hoped to re-sign Reynolds. In his 37 games with Detroit, Reynolds was praised for his ability to move the chains and make big catches for quarterback Jared Goff, and he averaged a career-best 9.5 yards per target in 2023.

“He’s one that was part of the original plans. Still having dialogue, we’ll just kind of see where that goes," said Holmes. "But that’s really the only one that’s still out there who was in the original plans.”

According to the Detroit Free Press, the Lions "made a below-market contract offer at the start of free agency and maintained minimal contact with Reynolds' camp in recent weeks."

Reynolds will step in as the team's second starting wideout across from Sutton. The 6-foot-3 wideout will offer versatility and dependability to a receiving room that has been plagued by injuries and inconsistencies in recent years.