The Broncos decided to waive Derby (shoulder) on Saturday, Mike Klis of 9 News Denver reports.
The move is somewhat surprising, as Derby led all Broncos tight ends with 19 catches for 224 yards and two touchdowns. The team acquired the tight end from the Patriots last season for a 2017 fifth-round pick, but the move never panned out. He will revert to the Broncos' injured reserve if he clears waivers.