Barely a week after agreeing to acquire Jerry Jeudy via trade, the Browns are investing in the former Broncos first-round pick. Jeudy and the Browns have an extension in place, NFL.com’s Ian Rapoport and Tom Pelissero report.
Jeudy agreed to terms on a three-year deal worth up to $58MM, with NFL.com adding $41MM is guaranteed at signing. While the 2020 first-round pick has not delivered a consistent career to date, the Browns are betting much of that is due to the Broncos’ issues at quarterback. As they are set to pair Jeudy with Amari Cooper, the younger receiver’s deal will now run through 2027.
The Browns already restructured Jeudy’s contract, adding void years to drop his 2024 cap number from $12.99MM to $3.5MM. This extension will help the team on that front, as the void years ran through 2028 on that simple restructure. This deal will check in south of $20MM per year, and it could come in closer to $15MM per year than the $20MM AAV Cooper is tied to. Jeudy is five years younger than the Browns’ other Alabama alum at wide receiver. With Cooper’s Cowboys-constructed contract expiring after the 2024 season, the team has a commitment in place with its WR2.
While it will be worth monitoring if Cooper makes his contract an issue after delivering back-to-back 1,100-yard seasons, the Browns will not make Jeudy prove it in their system before paying him. Jeudy’s next 1,000-yard season will be his first, but the John Elway-era Broncos draftee is now tied to a guarantee that matches what the Colts just gave Michael Pittman Jr. The $41MM fully guarantee is tied for fifth among wideouts, with Deebo Samuel also fetching that at signing on his three-year deal.
Cleveland eyed Jeudy in a trade last year, but Denver’s price was too high. The Browns pivoted to Elijah Moore, who ended up costing far more than Jeudy in a trade despite the ex-Jets second-rounder’s inferior production. It cost the Browns only fifth- and sixth-round picks to obtain a depressed asset from the Broncos, who are set to give Marvin Mims more time in Sean Payton‘s offense. The Broncos picked up Courtland Sutton‘s $2MM injury guarantee Monday and kept Tim Patrick on a substantial pay cut. Jeudy became expendable in Payton’s offense, and given his inconsistency last season, it was not surprising to see the Broncos bail despite the lower-end return.
Jeudy, who will turn 25 next month, has shown himself to be a shifty route runner capable of creating space. He impressed down the stretch of a shockingly poor 2022 Broncos season, closing the campaign with 972 receiving yards. The Broncos then set a first-round pick as their preferred Jeudy return in 2023. Although an offer including third- and fifth-rounders emerged at the deadline, Denver held on amid what became a five-game win streak. But Jeudy did not play a major role in that streak, seeing Sutton re-emerge as the team’s No. 1 target during Russell Wilson‘s second and final season at the controls. Jeudy did finish with 758 yards last season, but he took an undeniable step back.
Moore posted 640 yards last season, while David Njoku delivered a career-best slate (882 yards) alongside Cooper. Joe Flacco enabled much of this production, but the Browns moved on from the reigning Comeback Player of the Year, who is now with the Colts. They will expect Jeudy to form a connection with Deshaun Watson, whose outlier contract runs through 2026.
Jeudy was unable to become the player the Broncos wanted, as they cycled through quarterbacks. The Browns are betting on the former No. 15 overall pick to unlock another level with Watson, who has certainly not shown the form the team envisioned when it traded three first-round picks for him in 2022.
Primarily operating as a slot corner during his rookie contract, Holmes accepted a rare rookie-deal pay cut going into last season and then saw the Giants turn to other options ahead of him in the slot. The former fourth-round pick still held a special teams role, and the Giants will keep him around for potential depth.
