ENGLEWOOD, Colo. — Ahead of the 2023 NFL Draft, General Manager George Paton insisted wide receiver Jerry Jeudy would remain in Denver.

"We like Jerry, and he's going to be here," Paton said during the Broncos' pre-draft press conference.

On Monday, the Broncos made that statement a reality, as they exercised Jeudy's fifth-year option on his rookie contract.

The decision extends Jeudy's rookie contract through the 2024 season.

The 15th-overall pick in 2020, Jeudy posted the best season of his career in 2022 as he caught 67 passes for 972 yards and six touchdowns. Over the final five weeks of the season, Jeudy broke out with 33 catches for 458 yards and three touchdowns. During that span, Jeudy ranked fourth in the NFL in receiving yards and was tied for sixth in receptions.

Jeudy's 154-yard performance in a season-ending win over the Chargers set a career high in receiving yards and marked his fifth career 100-yard performance.

In his three-year career, Jeudy has posted 157 catches for 2,295 yards and nine touchdowns. Jeudy ranks fourth in franchise history in receptions and receiving yards and 11th in touchdown receptions through a player's first 41 career games.

The deadline to exercise Jeudy's fifth-year option was May 2.

The Broncos have now exercised the fifth-year option on both former first-round picks who have been eligible since Paton became Denver's general manager in 2021. Denver also exercised Bradley Chubb's option in 2021.