Breaking: Due to financial difficulties, the Denver Broncos   have officially released their fan-favorite wide receiver, WR, to the Minnesota Vikings on a five-year, $220 million contract, according to an ESPN story this morning.

To make room from the incoming rookie class, the Broncos parted ways with two veterans.

According to 9NEWS Denver’s Mike Klis, the Denver Broncos have released defensive lineman Rashard Lawrence and veteran wide receiver Phillip Dorsett.

The team already parted ways with quarterback Ben DiNucci earlier this week and now has moved on from these two veterans. With the Broncos beginning to sign their rookie class and officially announcing that they have signed 13 undrafted free agents, the team needed to trim down their roster to get to 90 players.

Phillip Dorsett, a former first-round pick, signed to the Broncos practice squad right before the start of the season and ended up playing in two games for them this past season, including one start. He only saw three targets in these two games and did not record a catch for the Broncos. Now, with the team signing Josh Reynolds and drafting Troy Franklin, Dorsett ended up being the odd man out of the receiver room.

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Earlier this year, the Broncos announced that they have signed veteran defensive lineman Rashard Lawrence to a futures deal. The former Cardinals starter who played for Vance Joseph was expected to compete for a roster spot as a reserve nose tackle. However, after the team signed Malcolm Roach, traded for John Franklin-Myers, and brought in two undrafted free agents at the position, they decided to move on from him.

The Broncos roster is now at 90 players but we could see more additions and subtractions with tryout players potentially making the team and another potential UDFA signing on the way.