The Broncos waved the white flag on Jerry Jeudy on Saturday, sending the former first-round pick to the Browns as they continue to shed salary to cover Russell Wilson's dead cap hit.
For Jeudy, the deal (which will remain unofficial until the new league year begins Wednesday) represents a much-needed fresh start. While the 24-year-old wide receiver showed flashes in Denver, he didn't cross the 1,000-yard threshold in any of his first four seasons.
The Browns made the deal in hopes of giving quarterback Deshaun Watson a legitimate No. 2 wide receiver alongside Amari Cooper and TE David Njoku, who both thrived when Joe Flacco assumed the starting role late in 2023. Jeudy might face less pressure in a more complementary role, but he's still facing a pivotal year before hitting free agency next spring.
Here is a full breakdown of each side of the deal, including grades for both the Browns and Broncos.
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Jerry Jeudy trade grades
Browns grade: A-
- Browns receive: WR Jerry Jeudy
Much like when the Browns dealt a fifth-round pick and sixth-round pick swap for Cooper, it's tough to find fault in such a low-risk deal.
Jeudy isn't the player Cooper is. But he also doesn't come with the financial risk Cooper did in 2022 given that he's a one-year rental. If it doesn't work out, Cleveland can wipe its hands clean of the deal next offseason.
The change in scenery should benefit Jeudy, who will face a lower-pressure environment. This isn't the team that drafted him with high expectations, nor is it the team that expected Jeudy to become a No. 1 receiver quicker than expected after Courtland Sutton tore his ACL two weeks into the 2020 season.
The trade also signals an understanding by GM Andrew Berry that the Browns' offense can't count on the running game to lead the way. It will take some time for Nick Chubb to return from last season's gruesome knee injury, and when he does, it wouldn't be fair to immediately give him the keys to the offense.
Cleveland will have to pass the ball to win games, and Watson looked like a quarterback who needed plenty of help when he was on the field in 2023. The Browns' depth chart was thin behind Cooper, so a high-ceiling player such as Jeudy is a much-needed addition to the receiving room.
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Is there any knock on this deal for Cleveland? It could be that $13 million is a bit of a hefty salary for a No. 2 receiver who still has much to prove, especially when it comes at more of a cost than a free-agent addition given the deal two draft picks surrendered. The Browns also aren't a team swimming in cap space, so this move will be a central part of their offseason.
Viable receivers do come at a cost, though. For example, the Raiders gave Jakobi Meyers $11 million annually last offseason to serve as a key complement to Davante Adams.
Broncos grade: B-
- Browns receive: 2024 fifth-round pick (No. 135), 2024 sixth-round pick (No. 202)
The Broncos' issue isn't so much that they didn't get fair value for Jeudy but rather that they could have gotten better value had they dealt him earlier. Jeudy was a known trade candidate for the better part of the past year, but Denver held onto the former first-rounder last offseason and at the deadline in 2023.
An underperforming receiver with one year and $13 million left on his contract is only going to fetch so much, but the chance to get two years of control plus Jeudy's much cheaper salary in 2022 likely would have generated a better return for Denver — particularly after Jeudy was a bright spot in a broken offense during Russell Wilson's first season with the Broncos.
With that said, this isn't an exciting return by any means. It's worth noting that the fifth-round pick is near the top of the round, coming in at No. 135 overall, but these are still lottery tickets more than sure-fire assets.
In terms of the 2024 season, keeping Jeudy on the roster wasn't necessary. The 24-year-old needed a fresh start, and Courtland Sutton's reemergence as a No. 1 receiver in 2023 also lessens the blow. (But Denver has work to do to add weapons surrounding Sutton, even if Marvin Mims takes on a larger role in 2024.)
Jeudy is a pending free agent, and the Broncos don't seem poised to contend in 2024. Whether they would like to admit it or not after missing the playoffs in eight consecutive seasons, the offense is in a state of disarray without a solution at quarterback. The running game wasn't good enough in 2023, there aren't enough weapons with or without Jeudy, and the offensive line could lose a key starter in free agent Lloyd Cushenberry III.
There is serious roster-building ahead in Denver, and Jeudy wouldn't have been enough to make that kind of difference in the final year of his rookie deal. That makes it an appropriate time to move on, even if the move should have been made sooner.
