Every player selected in the first round of an NFL draft has a fifth-year option built into his contract. Going into the 2023 offseason, first-round players from the 2020 NFL draft will be eligible for a fifth-year option for 2024.
That includes Denver Broncos wide receiver Jerry Jeudy, who was selected with the 15th overall pick of the 2022 NFL draft out of Alabama. The deadline to exercise a fifth-year option for 2024 is May 1.
Picking up the receiver’s option should be an easy decision for the Broncos.
Because he has not made the Pro Bowl and has not played at least 50% of the offensive snaps in each of his first three seasons, Jeudy will be eligible for the “basic” option worth $12,987,000, according to OverTheCap.com.
More playing time could have bumped Jeudy’s option up to $14,124,000, and a Pro Bowl nod would have increased it to $17,991,000. Multiple Pro Bowl selections would have made it $19,743,000.
In terms of salary cap flexibility, Jeudy’s slow start to his career could turn out to be a financial positive for the Broncos over the next two years.
As things stand now, a fifth-year option worth $12,987,000 in 2024 would make him the 26th-highest-paid receiver in the league that year. That would be a bargain for a receiver as talented as Jeudy.
After his first two seasons were hindered by injuries and poor quarterback play, Jeudy had a career year in 2022, totaling 67 receptions for 972 yards and six touchdowns, all career highs. Jeudy will eventually seek a big raise in a multi-year extension, but his fifth-year option gives Denver some cap flexibility for the next two seasons.
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