ENGLEWOOD, Colo. -- Faced with the deadline to bring wide receiver Josh Reynolds back on to the roster from injured reserve, the Denver Broncos waived the eight-year veteran Tuesday.

The Broncos, who had designated Reynolds to return from injured reserve Nov. 13, had to either move Reynolds to the 53-player roster this week or keep him on injured reserve to retain him. With two rookies now regularly in the receiver rotation to go with Marvin Mims Jr. in his second year, the Broncos chose to waive Reynolds instead.

If they choose, they could bring Reynolds back to their practice squad if he clears waivers Wednesday and is not claimed by another team. If he goes unclaimed, Reynolds would be a free agent, able to sign with any team.

He had 12 receptions for 183 yards and one touchdown in five games this season, having suffered a fractured finger Oct. 6 on his touchdown catch against the Las Vegas Raiders. Reynolds signed a two-year, $9 million deal with the Broncos in free agency this past March and the Broncos will pay him $4.245 million guaranteed for his five-game tenure.

Broncos coach Sean Payton, who said it was "good to have [Reynolds] back'' Nov. 13 when Reynolds returned to practice to start the 21-day clock, has continued to laud the efforts of rookies Devaughn Vele and Troy Franklin. Both have worked their way into the rotation at receiver -- Vele is second among the team's wide receivers in catches (33) and yards receiving (377).

Mims had his second career 100-yard receiving game in Monday night's win over the Cleveland Browns with 105 yards on three catches, including the Broncos' longest scoring play of the season, a 93-yard catch-and-run touchdown.

Reynolds has been on injured reserve since he hurt his hand, but he was also one of two men injured in a shooting in Denver in October. Reynolds suffered what police termed as "non-life threatening'' injuries to his head and left arm.

Denver Police later announced they had arrested two men in connection to the shooting: Burr Charlesworth, 42, and Luis Mendoza, 35. They were charged with six counts of first-degree attempted murder, six counts of first-degree assault and additional felonies. 

Reynolds has not spoken publicly about the incident.