The Broncos waived Sherfield on Saturday, Mike Klis of 9News Denver reports.
The move comes after the Broncos signed Lil'Jordan Humphrey from the Giants' practice squad to the active roster Wednesday. Sherfield served in a depth role at wide receiver and posted three catches (on four targets) for 21 yards across 10 regular-season games. He could garner interest on the waiver wire from teams looking to add a wide receiver who can also contribute on special teams.