Schultz was diagnosed with a right ankle sprain after exiting Wednesday's practice, Todd Archer of ESPN.com reports.
There's no timeline for Schultz's return to the field, but his ankle sprain isn't believed to be serious. The 25-year-old is unlikely to be available for Friday's preseason contest in Arizona in any case. Schultz broke out in 2020 with 63 receptions for 615 yards and four touchdowns after Blake Jarwin went down in Week 1 with a torn ACL. The pair should continue to compete for the starting role at tight end, assuming Schultz's ankle issue doesn't impact his availability for the start of the season.