ESPN's Adam Schefter, citing a source, reported Monday morning the Browns will receive a 2020 seventh-round draft pick.
Coleman, 24, has been limited to 19 games through his first two NFL seasons because of injury. He recorded 23 receptions for 305 yards and two touchdowns in 2017.
The Browns originally had the No. 2 overall pick in 2016 before trading back twice. The Philadelphia Eagles selected Carson Wentz with the second pick in that draft, while Cleveland landed Coleman at No. 15 overall.
While he's physically gifted, Coleman's NFL career has yet to really take off. Just days after his first 100-yard game as a rookie, Coleman broke his hand in practice and missed nearly two months. His rookie season never got off the ground after that, and Coleman broke the same hand two games into the 2017 campaign.
A hamstring injury has hindered Coleman in camp. The Browns have been using rookie Antonio Callaway with the first-team offense, and this trade is a signal they like what they see in Callaway. Cleveland is also expecting Josh Gordon back at some point before Week 1.
The Bills and Browns have become friendly trade partners. Buffalo previously traded quarterback Tyrod Taylor to Cleveland earlier this offseason.
The move also further distances Browns general manager John Dorsey from the team's 2016 draft. He already traded 2016 third-round pick Cody Kessler and released fifth-round pick Jordan Payton.
Coleman will be fighting an uphill battle with camp underway but might be a smart buy-low for the Bills. They will presumably use 2018 to decide whether Coleman or Kelvin Benjamin is the former first-round receiver they want to build around.