Throughout the offseason, the Denver Broncos were shopping wide receiver Jerry Jeudy, entertaining offers for the wide receiver or asking too much in trade compensation for the former Alabama All-American. At least, that was the buzz.

But the Broncos not only did not trade Jeudy, on Monday, Denver announced it had exercised its option for a fifth season on Jeudy’s contract, locking up the wide receiver through the 2024 season.

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Every drafted player gets a four-year contract, and those for first-round draft choices carry a team option for a fifth season. Teams must exercise that option before the player’s fourth season. The deadline for using the option for players in the 2020 draft is 3 p.m. CDT Tuesday.

Jeudy earned consensus All-American recognition at Alabama in 2018, and he was a first-team All-American selection again by the America Football Coaches Association in 2019. During three seasons with the Crimson Tide, Jeudy had 159 receptions for 2,742 yards and 26 touchdowns.

Jeudy entered the NFL as the 15th choice in the 2020 draft, and he got a contract for $15.193 million.

By picking up the fifth-year option, the Broncos guarantee Jeudy a payday of $12.987 million for the 2024 season. That is the average of the third through 25th highest salaries for wide receivers over the past five seasons.

After posting career highs of 67 receptions for 972 yards and six touchdowns in 15 games during the 2022 season, Jeudy has 157 receptions for 2,295 yards and nine touchdowns in his NFL career.

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Mark Inabinett is a sports reporter for Alabama Media Group. Follow him on Twitter at @AMarkG1.