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Broncos waive former first-round pick Paxton Lynch

The Denver Broncos waived former first-round pick Paxton Lynch after claiming quarterback Kevin Hogan off waivers Sunday, a source told ESPN's Adam Schefter.

NFL Network first reported the news.

Lynch had made the initial 53-man roster on Saturday but president of football operations/general manager John Elway stressed that it was as the third quarterback, behind starter Case Keenum and backup Chad Kelly.

Elway said Saturday evening that part of the thinking was Kelly's inexperience. He was a seventh-round pick in the 2017 draft who spent his rookie season on injured reserve, and that played a part in the decision to retain Lynch.