Vannett has been released by the Broncos, Mike Klis of 9News Denver reports.
Vannett was to slated to earn $2.678 million this coming season, so the move frees up some extra cap room for the Broncos. The 28-year-old hauled in 14 of his 21 targets for 95 yards and a TD in 15 games last year, while earning most of his keep with his blocking. He'll look to catch on elsewhere as a depth tight end.