Peoples-Jones was officially released on Thursday, a day after the Saints traded a fourth and sixth-round draft pick to the Denver Broncos for Vele. Peoples-Jones did not have a catch in either of the Saints' first two preseason games.

Dec 15, 2024; Denver, Colorado, USA; Denver Broncos wide receiver Courtland Sutton (14) celebrates his touchdown reception with wide receiver Devaughn Vele (17) in the fourth quarter against the Indianapolis Colts at Empower Field at Mile High. Mandatory Credit: Ron Chenoy-Imagn Images / Ron Chenoy-Imagn Images

Given a day to process the Devaughn Vele trade move and prepare his remarks, Broncos coach Sean Payton explained the combination of interest in Vele and a need to narrow down the receiver room led to the deal.