The Denver Broncos had to decide this week whether or not they were going to activate Josh Reynolds from injured reserve and put him on the 53-man roster again or if they were going to keep him on IR for the rest of the season. They ended up picking door number three, which not many people had really considered until they took it.
The Broncos shockingly waived Reynolds, a player who was given a two-year contract in the offseason worth $9 million in total money and over $4 million in guaranteed cash. The Broncos' decision to cut Reynolds came after a month-plus of young players stepping up at receiver for the team, including Marvin Mims, Devaughn Vele, and Troy Franklin.
It figures that a talented player like Reynolds -- who has practiced fully the last handful of weeks -- would get claimed off of waivers. But with just over a month remaining in the season, the team he ended up getting claimed by is a curious one, to say the least.
Reynolds is heading to the Jacksonville Jaguars.
Broncos save over $600K with Josh Reynolds being claimed by Jaguars
Source confirms Jaguars claimed WR Josh Reynolds off waivers. They pick up $623,611 of his prorated payout for this season, plus another $75K in per game active roster bonuses. So roughly $700,000 for 2-10 team. Broncos save the $623,611. #9sports
— MikeKlis9NEWS (@mikeklis9news) December 4, 2024
The Broncos will save over $623K this year by letting go of Reynolds, and having his contract picked up by another team has also saved the Broncos $4.5 million on next year's salary cap. According to Over The Cap, the Broncos are projected to have nearly $64 million in 2025 salary cap space.
The decision to release Reynolds has a number of major implications for the 2024 Denver Broncos as well. In his short time in Denver, Reynolds caught 12 passes including a touchdown against the Las Vegas Raiders back on October 6. Reynolds had 93 yards in his season-high this season back in Week 2 against the Pittsburgh Steelers. He was making an impact, but the Broncos have been going with a youth movement just about anywhere they possibly can this season.
The wide receiver position has received a jolt from its young guys in the last month more than most positions. The team has discovered a prominent role for second-year player Marvin Mims, Devaughn Vele has proven he can handle a high volume of targets, and Troy Franklin is slowly coming along. Not only that, but Courtland Sutton has been playing some of the best football we've seen from him as a Bronco.
It's not that Reynolds would have been a hindrance to the Broncos, necessarily, but they want to give snaps and targets to other young players. The Broncos also really like practice squad receiver AT Perry, a second-year player who has great size and speed.
Sadly for Reynolds, this means he's going from playing in Detroit last year (where he competed for an NFC title) to Denver early in 2024 (where the Broncos are fighting for a playoff spot) to Jacksonville (who is fighting for the #1 pick in the draft. He might get some snaps there, but Trevor Lawrence isn't even playing the rest of this season. He just went on IR with a head injury (concussion).
It's a shame it didn't work out for Reynolds in Denver. He spent most of this season on injured reserve with a hand injury and then went through a traumatic incident when he and others were shot at in the Aurora, CO, area. Hopefully, he's able to stay healthy and get back on track. He's currently under contract with the Jaguars for 2025.