Holmes (ankle) was released by the Broncos on Wednesday, Field Yates of ESPN reports.

The Broncos acquired Holmes via waivers after he was cut by the Bills in early December. The veteran wideout went on to appear in three games with Denver, hauling in his lone target during that span for a five-yard reception before moving to injured reserve after suffering a high-ankle sprain. Holmes should be back to full strength by the time teams reconvene for OTAs, but it's unlikely he'll have a robust market as he heads into free agency. As a 30-year-old wideout who has topped out at 47 receptions, 693 yards and four touchdowns during any of his seven seasons, Holmes may have to wait until some bigger names at the position come off the board before landing a depth role with a team.

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