After much speculation about his future in Denver, Broncos quarterback Paxton Lynch survived the cut to make the team’s initial 53-man roster. However, his joy has proven to be short-lived as the Broncos have cut the former first-round pick, per Adam Schefter of ESPN.

Lynch’s release came shortly after the Broncos claimed Kevin Hogan off waivers following his release by the Washington Redskins.

“Vance [Joseph] and I met with Paxton this morning and informed him that it's best for everyone to make this move,” Broncos president of football operations/general manager John Elway said in a statement (per Herbie Teope of NFL.com). “We appreciate all of Paxton's hard work as a Bronco, and we wish him well in the future.”

Unless someone claims Lynch’s contract, the Broncos will be stuck with his $1.9 million in guaranteed base salary over the next two years. And if Lynch goes unclaimed, he will become a free agent.

Lynch turned out to be a disappointment after the Broncos traded up to pick him in the first round of the 2016 NFL Draft. He appeared in just five games over two years, making four starts. He didn’t show many flashes of his once-touted potential as he completed 62 percent of his passes for 792 yards with four touchdowns and four interceptions.

Lynch was unable to secure the Broncos’ backup QB spot behind Case Keenum for this season as he was beaten for the job by Mr. Irrelevant 2017, Chad Kelly.

Hogan will now take over Lynch’s spot as the Broncos’ third-string QB. A former fifth-round pick by the Chiefs in 2016, Hogan made eight appearances in two seasons with the Cleveland Browns. He completed 59 percent of his passes for 621 yards. He also threw four touchdowns against seven interceptions.