Reports emerged Saturday that the Denver Broncos traded wide receiver Jerry Jeudy to the Cleveland Browns in exchange for a fifth- and sixth-round pick in the 2024 NFL draft, though the deal can't be made official until the new league year begins on March 13.

In the aftermath of those reports, Jeudy dropped a video of his best moments with the Broncos and thanked the city of Denver for his time there:

Jerry Jeudy⁴ @jerryjeudy

Thank you, Denver, for everything. 🤞🏾 <a href="">

With Jeudy entering the final season on his rookie contract—he's set to make $12.9 million on his fifth-year option—the Broncos decided to move on now rather than let him walk for nothing as a free agent in a year. Clearly, the team had made the decision it wasn't going to extend him now or re-sign him after the 2024 season.

His time in Denver never lived up to the expectations that came with being a first-round pick out of Alabama in 2020. His best season came in 2022, when he caught 67 passes for 972 yards and six touchdowns, all career highs. Solid numbers, though not WR1 production.

In 2023 he caught 54 passes for 758 yards and just two scores.

Ed Werder @WerderEdESPN

From <a href="">@ESPNStatsInfo</a>: Jeudy is about to enter his 5th season, and the former 15th overall pick in 2020 has not cracked 1,000+ Rec yds or 70+ Rec in a season yet. Six of his 11 career Rec TD came in 2022, and that total fell to 2 Rec TD in 16 games played last season. <a href="">

Chris Tomasson @christomasson

HOFer James Lofton on Jerry Jeudy: "Didn't live up to the (15th) pick .. &amp; those things are always tough on a young player because that's a burden around his neck. Now he'll get a chance to get a fresh start &amp; see what he can do in Cleveland for a year &amp; then hit the open market"

Chris Tomasson @christomasson

NFL analyst Mark Schlereth on <a href="">#Broncos</a> to trade Jerry Jeudy: "As the 15th overall draft pick, you traded for a fifth- and sixth-rounder. He goes down as just another wasted draft pick. … It's a bust. It's a draft pick that didn't work out here."

It didn't help that Jeudy's time in Denver coincided with an ongoing identity crisis at quarterback that has persisted in the post-Peyton Manning era. That culminated in the ill-fated Russell Wilson experiment, a trade and signing that set the organization back years.

The Broncos have now moved on from several veterans this offseason. Jeudy joins Wilson and Justin Simmons (both released) as departing players, among others.

Spotrac @spotrac

The <a href="">#Broncos</a> have now freed up $49M of 2024 cap space with: <br><br>- Justin Simmons' release<br>- Jerry Jeudy's Trade<br>- Mike McGlinchey's conversion<br>- Tim Patrick's restructure<br>- Chris Manhertz's release<br><br>They approach the tampering period with around $28M to work with.

What the Broncos do with the cap space they've cleared remains to be seen, as the roster has plenty of holes to fill. All eyes will be on the quarterback position at the draft, as the team looks to finally address what has become a decade-long need.

As for receivers, the team has solid options in Courtland Sutton, Marvin Mims and Tim Patrick. That isn't the strongest collection of playmakers, but it will suffice as the team enters what feels like it will be a comprehensive rebuild.