After being talked about as a trade candidate during the 2023 season, Jerry Jeudy has finally been dealt by the Denver Broncos.

Per ESPN's Adam Schefter, the Broncos agreed to a deal that will send Jeudy to the Cleveland Browns.

NFL Network's Ian Rapoport added Denver will receive a fifth-and sixth-round draft pick in exchange for the veteran wideout.

The move seems to be approved by Browns quarterback Deshaun Watson.

The return for Jeudy is disappointing for the Broncos for two reasons. The first is they are giving up on a player who was a first-round draft pick in 2020. Even though he didn't live up to the potential of being selected No. 15 overall, he averaged 53 receptions and 763 yards per season over the past four seasons.

If you factor in what the team traded away to acquire Russell Wilson, Patrick Surtain II (2021) and Garrett Bolles (2017) are the only first-round picks the Broncos have made since 2017 who are still on the roster.

This year will be their first time picking in the first round since drafting Surtain.

The second reason this trade is disappointing is that the Broncos took a significantly worse trade package for Jeudy now than what they could have received if they dealt him during the season.

Schefter reported on Nov. 2 that the Broncos turned down an offer of a third- and fifth-round pick from an undisclosed team to keep Jeudy.

Denver will save almost $13 million against the cap by trading Jeudy. The team is preparing to release Wilson when the new league year begins on Wednesday, which will come with an $85 million dead cap hit that can be spread out over two years.

To compensate for the impending cap crunch, the Broncos cleared about $35 million in cap space by releasing Justin Simmons and Chris Manhertz, reworking Tim Patrick's deal and restructuring Mike McGlinchey's contract.

The Browns are shaping up to have a very intriguing group of skill-position players next season. Jeudy will join a receiver room with Amari Cooper, Elijah Moore and David Njoku at tight end.

Nick Chubb's future with the club is uncertain after he had two surgeries to repair the knee injury he suffered in Week 2 last season. General manager Andrew Berry has indicated they want to keep him, but he has a $15.8 million cap hit and a vague timeline of when he might return to play.

Jeudy will likely be playing for a long-term contract extension in 2024. He is going to earn $12.99 million next season in the final year of his rookie deal.