Jerry Jeudy, Broncos Reportedly Agree to 4-Year, $15.192M Rookie Contract

Rookie wide receiver Jerry Jeudy has signed his contract with the Denver Broncos, according to ESPN's Adam Schefter. 

The Broncos selected the Alabama star with the 15th overall pick in the 2020 NFL draft. While offset language has become a sticking point for first-year players, Jeudy's draft position largely set the parameters for his contract.

According to Over the Cap, Jeudy is projected to earn a little under $15.2 million over his first four years with an $8.6 million signing bonus. Here's how his yearly salary cap hits break down:

Drew Lock replaced Joe Flacco midway through the 2019 season, and Flacco's departure cleared the way for Lock to open 2020 as the starting quarterback.

With the exception of the Peyton Manning interlude, the Broncos have largely struggled to find a suitable replacement for John Elway, who retired in 1998 and is now general manager.

Elway has swung and missed with multiple draft picks. Spending a second-round pick on Brock Osweiler and a first-rounder on Paxton Lynch proved disastrous. The Broncos are doing everything they can to ensure the same thing doesn't happen to Lock.

Denver already had Courtland Sutton, who notched 1,112 receiving yards and reached the Pro Bowl in 2019. That didn't stop the team from selecting Jeudy and then adding Penn State wideout K.J. Hamler.

Jeudy finished his college career with 159 receptions for 2,742 yards and 26 touchdowns in three years with the Crimson Tide. Bleacher Report's Matt Miller ranked him as the best receiver in the 2020 draft class and the fifth overall prospect with a grade of 95 out of 100.

The first round hasn't necessarily been fertile ground for finding elite pass-catchers in recent years. Thirteen receivers were named to the 2020 Pro Bowl, four of which were selected in the first 32 picks.

Still, the Broncos weren't exactly in a position, given their aforementioned quarterback issues, to pass on the opportunity to land somebody who could help form the backbone of their aerial attack.

The Broncos averaged the fifth-fewest passing yards (194.7) and finished 27th in pass offense DVOA (defense-adjusted value over average), per Football Outsiders. Becoming an elite offensive team in the space of one offseason is unrealistic, but Denver should take a big jump forward in 2020.