Browns restructure yet another contract, clear $10 million in cap space

That’s another $10 million in cap space.

The Cleveland Browns have done it again, clearing an additional $10 million in cap space by restructuring the contract of new wide receiver Jerry Jeudy.

This was alluded to early this week by Browns Wire after the trade was made as all of Jeudy’s 2024 cap hit was base salary. This gave the Browns the giant opportunity to take $10 million of that cap hit and convert it to a bonus to pay to Jeudy upfront. His cap hit now drops to just $2.987 million on the season.

This comes after the first wave of free agency where the Browns traded for Jeudy, retained Za’Darius Smith, Maurice Hurst, Shelby Harris, and more, and even added a few players like linebackers Jordan Hicks and Devin Bush.

As free agency continues, this gives general manager Andrew Berry quite a bit of wiggle room to play around with as the offseason is still young. It also gives Berry the breathing room to cover some of the deals he has already agreed to as well.

New Browns WR Jerry Jeudy will wear No. 3 jersey

The number 3 will be worn by a new player next season

On the same day the Cleveland Browns officially announced the trade for Broncos wide receiver Jerry Jeudy, they also showed his new number. Jeudy will wear No. 3 with the Browns. That number was worn last year by Marquise Goodwin, who is now a free agent. Jeudy wore No. 10 with his previous team, the Denver Broncos.

Jeudy was in Cleveland on Wednesday, meeting with the team and touring the facility; the team released video and photos of him in Berea. It was a great move from Andrew Berry to acquire Jeudy, who seemed like a bargain after some of the money had been thrown around to wide receivers in the early days of free agency.

The Browns likely still have moves to make, as the team still needs to add depth on the offensive line, a tight end and maybe a third safety. With Jeudy on board, the Browns might add another wide receiver, but it is more likely that it will happen in the draft.

Broncos officially trade WR Jerry Jeudy to Browns for late-round picks

The Broncos officially traded WR Jerry Jeudy to the Browns on Wednesday in exchange for fifth- and sixth-round NFL draft picks.

The Denver Broncos agreed to trade wide receiver Jerry Jeudy to the Cleveland Browns last weekend, but the deal could not become official until the NFL’s new league year began at 2:00 p.m. MT on Wednesday.

The new league year has since arrived, marking the official start of NFL free agency. The trade is now official, as announced by the two teams on Wednesday afternoon.

Cleveland will send a fifth-round pick (No. 136) and a sixth-round pick (No. 203) to Denver in exchange for Jeudy, giving the Broncos eight total picks to use in the 2024 NFL draft.

In addition to gaining the late-round draft picks, Denver also freed up $12.987 million in salary cap space. That’s the total Jeudy will earn in 2024 after the Broncos picked up his fifth-year option prior to the trade.

A former first-round pick, Jeudy never quite lived up to his potential in Denver. Now entering his fifth season, Jeudy will hope a change of scenery can help jumpstart his career. He will turn 25 next month.

The Broncos, meanwhile, are left with Courtland Sutton, Tim Patrick, Marvin Mims, Jalen Virgil and Brandon Johnson as the top remaining receivers on their depth chart.

We are tracking all of Denver’s free agency moves on Broncos Wire.

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One stat shows how Jerry Jeudy’s addition makes Browns more explosive

Jeudy makes Cleveland’s passing offense more explosive

One of the goals for the Cleveland Browns this offseason is to find a way to get more dynamic in the passing game. General manager Andrew Berry took the first step towards doing that, trading away two-day three picks for Broncos wide receiver Jerry Jeudy.

Though he hasn’t played up to his potential with some poor quarterback play, it is clear that at his best, he’s an above-average athlete who can make big plays. One stat shows this best as PFF’s Brad Spielberger posted that only five wide receivers since 2022 have had double-digit receptions of over 40 yards, and Jeudy finds himself on that list with 10 such catches.

Also on that list is Jeudy’s new teammate, Amari Cooper, who has had 12 receptions of over 40 yards. Cleveland will likely still look towards the 2024 NFL draft to add even more at the position, but for now, they have made a significant move in the right direction to build off of a great 2023 season.

New Browns WR Jerry Jeudy responds for first time since trade from Broncos

Jeudy is excited for a fresh start.

For the third time in three seasons, the Cleveland Browns have traded for a wide receiver. First it was Amari Cooper, then it was Elijah Moore, and now it is former first rounder Jerry Jeudy who comes to Cleveland by way of the Denver Broncos.

The Browns gave up just a fifth and a sixth round pick to acquire the services of Jeudy, who has racked up over 700 yards each of the last two seasons. While these numbers do not match the hype he had coming out of Alabama, a fresh start with the brown and orange may be just what Jeudy needs.

And for the first time since the news of his departure from the Broncos broke, Jeudy took to social media to respond. You can see Jeudy’s response to joining the Browns below, as he has stated, ” Only dawgs allowed.”

It sure seems like the former first rounder is ecstatic for his clean slate in Cleveland.

Broncos could have gotten more for Jerry Jeudy in 2023

Broncos turned down 3rd- and 5th-round picks for Jerry Jeudy last fall, per Adam Schefter. Now they’ve accepted 5th- and 6th-round picks.

Hindsight is always 20/20, right?

Last year, the Denver Broncos held firm at the NFL’s in-season trade deadline, opting not to trade wide receiver Jerry Jeudy, safety Justin Simmons or anyone else despite being 3-5 going into their bye week.

The Broncos ended up finishing the year with an 8-9 record and they missed the playoffs. A few months later, Jeudy has been traded for a pair of late-round picks and Simmons was cut in exchange for salary cap space (which was needed, but picks would have been helpful as well).

Denver probably could have gotten more for Jeudy had they traded him before the in-season deadline last fall, and even getting a late-round pick for Simmons would have been better than releasing him for nothing.

During an interview on 104.3 The Fan last November, ESPN’s Adam Schefter said, “I believe they [the Broncos] got offered a three and five” during trade talks for Jeudy. If that’s accurate, Denver turned down third- and fifth-round picks in 2023 only to later accept fifth- and sixth-round picks for the same player in 2024.

This is yet another poor result for general manager George Paton, who has fumbled numerous free agent signings and trades in recent seasons. One has to wonder just how long until the Broncos might cut Paton as well.

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Jets reportedly had ‘interest’ in trading for Broncos WR Jerry Jeudy

The Broncos traded wide receiver Jerry Jeudy to the Browns, but the New York Jets were reportedly one of the teams interested in him.

Denver Broncos wide receiver Jerry Jeudy was traded to the Cleveland Browns, but the New York Jets were reportedly one of several teams that had shown interest.

According to ESPN’s Jeremy Fowler, Jeudy had drawn interest from five or six teams, with the Jets being one of them, as were the New England Patriots.

Jeudy is a former first round pick of the Broncos in the 2020 NFL Draft, but has been a fixture in reported trade talks for around the last year after not finding the same level of success as other members of his draft class at the receiver position.

Regardless, Jeudy has been a big part of the Broncos’ offense, with 184 targets over the last two seasons and totaling 1,745 yards – finishing just shy of 1,000 yards in 2022 – at 14.2 yards per catch with eight touchdowns.

He spent the majority of his snaps in 2023 lined up in the slot but has the ability to be moved around the formation, providing flexibility to an offense with close to a 50-50 split in slot snaps versus boundary snaps in his career.

It’s no surprise that the Jets were at the very least interested in trading for Jeudy, with wide receiver being arguably the second biggest need on the team behind addressing the offensive line.

Outside of Garrett Wilson, the Jets second leading receiver in 2023 was Allen Lazard with 311 yards followed by Xavier Gipson with 229 yards. Of course, having Aaron Rodgers under center will help with this, but nonetheless, upgrades are needed to take some of the burden off of Wilson.

“We’ve got some great young guys,” said Wilson via The Athletic, “we’ve got some great vets,” he said. “I think another infusion of someone that brought different things to the table that gives the defense something to worry about, that would be beneficial to everyone, not just me.”

The Browns acquired Jeudy for 2024 fifth and sixth-round picks. Obviously, in a vacuum, this is a deal the Jets could have made. However, they are already somewhat limited in draft capital, ranking 22nd in total draft pick value, according to Tankathon, while having a number of needs to fill.

Jeudy is also set to play out the 2024 season on his fifth-year option, which the Broncos did pick up last offseason. That option comes with a $12.98 million salary for 2024, and because this is effectively a one-year deal, that entire amount would hit this year’s salary cap.

At the moment, Over the Cap has the Jets with $20.71 million in total cap space. You can read more about the Jets’ cap situation here.

There’s a decent chance that a long-term deal would have also had to have been worked out with Jeudy had the Jets acquired him, which would have helped lower Jeudy’s 2024 cap hit.

All we know is that the Jets were “interested” – which is a relative term – in Jeudy but to what level is unknown. The Jets’ current draft capital situation, coupled with Jeudy’s 2024 cap hit and the roster holes they have elsewhere, may have been limiting factors for New York.

Adding Jerry Jeudy must not sway Browns away from WR early in 2024 NFL draft

While the Browns added Jerry Jeudy to their wide receiver room, their minds should not change from taking a wide receiver early in the 2024 NFL draft

Even after adding Jerry Jeudy to their wide receiver room, the Cleveland Browns must stay focused on the same position in the 2024 NFL draft.

On paper, a trio of Amari Cooper, Elijah Moore, and now Jeudy looks quite promising for the Browns. With just one exception:

They are all free agents after the 2024 season.

While the Browns have drafted Cedric Tillman and David Bell in the third round of the last two drafts, they must still strongly consider drafting another wide receiver when they come on the clock with the 54th overall pick in the draft. This is not to say they should reach for a wide receiver if the value is not there, nor should they force a trade-up just to prioritize the position. However, the wide receiver position should firmly stand at the top of their draft board.

Entering next season with just Tillman, Bell, and Michael Woods II under contract on the roster is enough to fuel nightmares. The way to prevent that, without even beginning to discuss an extension with the aging Cooper or the inconsistent group of Moore and Jeudy, is to land a promising young talent in the second round.

Here is to hoping a player like Florida State’s Keon Coleman will be overlooked because of his 40-yard dash time, or that Georgia’s Ladd McConkey slips because of his size and injuries in 2023.

Looking at Jerry Jeudy’s contract and the likelihood of a Browns restructure

The Browns have acquired Jerry Jeudy. Now what?

The Cleveland Browns have added wide receiver Jerry Jeudy in a trade with the Denver Broncos. And in doing so, have taken on a $12.9 million cap hit in the form of the former first rounder’s fifth-year option, which Denver picked up a year ago.

Look for the Browns to restructure that deal so a large chunk of that almost $13 million will not count against the salary cap.

After all, the Browns just did this with the fifth-year option of their own in Jedrick Wills. Fifth-year options are all base salary and very minimal bonuses. In Jeudy’s case, there are no bonuses to it.

This makes the contract extremely easy to restructure. The Browns could easily restructure the deal of Jeudy, pay out his base up front as a bonus out of the pocket of the owner, and then save that money off the cap on the back end.

What this means is the Browns will also likely add a void year or two to the back of Jeudy’s contract, where he will have a dead money hit even after he is not on the team. However, as the salary cap continues to rise, one dollar in 2024 will cost only a fraction of that in future years.

And that will likely happen at some point.

Former Alabama WR Jerry Jeudy traded from Denver Broncos to Cleveland Browns

Former Alabama wide receiver Jerry Jeudy was traded from the Denver Broncos to the Cleveland Browns on Saturday. Jeudy will help add to a Browns receiving core that is led by former Alabama wide receiver Amari Cooper.

Two former Alabama wide receivers will be able to suit up alongside one another next season. Jerry Jeudy and Amari Cooper will be teaming up in the AFC North next season.

On Saturday afternoon, the Denver Broncos and Cleveland Browns agreed on a trade that would send Jeudy to Cleveland for a fifth and sixth round draft pick in 2024.

Jeudy had been linked to the Browns during previous trade deadlines. Now, he will have the opportunity to join forces with Cooper to form one of the top receiving duos in the AFC, much less in the NFL.

Jeudy spent the first four years of his professional career with the Broncos. Over the course of his career, Jeudy has reeled in 211 receptions for 3,053 receiving yards and 11 touchdowns.

A change of scenery was likely the best option for Jeudy moving forward. The Broncos have decided to part ways with several key assets in recent days. It seemed like only a matter of time before Jeudy was traded elsewhere. The Florida native will join one of the top offenses in the AFC and will add experience at the wide receiver position. It will be interesting to see how he performs in Cleveland.

Roll Tide Wire will continue to follow the latest regarding the Alabama football program and its former players in the NFL.