After his future in Denver appeared to be in doubt, Jerry Jeudy will remain with the Broncos through the next two seasons. The receiver will have his fifth-year option picked up, as confirmed by a team announcement. Doing so will set him for a $14.12MM cap hit in 2024. 
Jeudy, 24, was the second receiver off the board in 2020, going 15th overall and entering the Mile High City with considerable expectations. By and large, he has yet to live up to them, failing to eclipse the 1,000-yard threshold in any of his three seasons with the team. During a strong showing to close out the 2022 campaign, however, he began to flash the potential he showed coming out of college.
The Alabama product finished the season with new career highs in catches (67), yards (972) and touchdowns (six), a relatively impressive statline considering the challenges the Broncos’ offense suffered throughout the campaign. Those totals also led to several inquiries around the league regarding Jeudy’s availability (along with that of fellow wideout Courtland Sutton).
On multiple occasions, Broncos decision-makers have insisted Jeudy in particular is part of the team’s long-term plans. This move proves that sentiment, and will allow him to continue his career ascent while Denver looks to take a much-needed step forward on offense to begin the Sean Payton era. Their passing game will have a new element following their approach to the draft.
The Broncos traded up in the second round to select Oklahoma wideout Marvin Mims, giving them a vertical threat and another young option at the position. He, along with Jeudy, is in line to serve in a leading role for at least the short-term future on offense. How willing Denver is to commit to a multi-year deal with the latter (this offseason or next) will now become an interesting storyline to monitor.
Even if the Broncos want to trade Jeudy, having him attached to a fifth year deal will make him more attractive to potential suitors. Jeudy retains a lot of unrealised potential in the NFL so it would be better to hold onto him, as he won’t return the value the Broncos invested. If Jeudy breaks out and leaves as a free agent, the Broncos will enjoy two more years of great play and a third round compensatory pick.
Not at over $14 in 2024 all fully guaranteed
Bumpy, I don’t think you’ve been following the deals star WR1 have been signing. Even mediocre WR1 receivers make $10 million/year these days. The Broncos are not risking much.
BOOM #buckembroncos
The Broncos have no idea what kind of player Jeudy is – as his performance has been all over the place. I suspect this signing is simply an attempt to protect their trade/compensation status.