NFL Free Agency: Denver Broncos mutually part ways with RB Phillip Lindsay

Former Denver Broncos RB Phillip Lindsay

The Denver Broncos and running back Phillip Lindsay have mutually agreed to part ways on Thursday. Denver placed the restricted free agent tender on Philip Lindsay earlier this week. The Broncos went out and signed running back Mike Boone, and Lindsay's representatives met with the Broncos.

During the meeting, both sides agreed that it was in the best interest of both sides for the Broncos to rescind their restricted free agent tender. Once the Broncos agreed to do this, it made Phillip Lindsay a free agent. Phillip Lindsay had back-to-back seasons where he rushed for over 1,000 rushing yards.

Lindsay was selected to the 2018 NFL Pro Bowl in his rookie season. Denver went out last off-season and signed running back Melvin Gordon to a two-year, $16 million deal. Now this off-season they signed running back Mike Boone to a two year deal that has $2.6 million in guaranteed money.

After several positive talks with Phillip Lindsay & his representation, we have mutually decided to part ways.

From a college FA to the first undrafted offensive rookie to make the Pro Bowl, you made an incredible impact in the orange & blue.

Thanks for everything, @I_CU_Boy! pic.twitter.com/G2h0jMpN2Q
— Denver Broncos (@Broncos) March 18, 2021

Phillip Lindsay has definitely gotten the short end of the stick over the last three seasons with the Denver Broncos. Lindsay performed above average and never got the respect that he deserved from Denver.

NFL Free Agency: How long will Phillip Lindsay stay on the free agency market?

After parting ways with the Denver Broncos, Phillip Lindsay is a free agent, but for how long? Phillip Lindsay is among the top three running backs in the 2021 NFL free agency group of running backs. He has earned this through his performances over the past three seasons with the Broncos.

The first 2 seasons of Phillip Lindsay's career were ELITE.

From 2018-2019 players with at least 2k rush yds, 400 rec yds, and 70 rec:

Phillip Lindsay
Ezekiel Elliott
Christian McCaffrey
Saquon Barkley
Joe Mixon
Todd Gurley pic.twitter.com/rGNsnpDB7X
— CBS Sports HQ (@CBSSportsHQ) March 18, 2021

Phillip Lindsay's Career Stats

-- Carries: 534

-- Rushing yards: 2,550 yards

-- Touchdowns: 17

Phillip Lindsay added to his rushing stats by registering 77 receptions for 465 receiving yards and one touchdown. There is a market for Phillip Lindsay and he will receive offers. It's hard to believe that he will be a free agent by this time next week.

The former Denver Broncos running back holds a market value of two years, $16.5 million. This breaks down to about $8.2 million for an annual salary. Lindsay will most likely receive a deal by Monday of next week, if not sooner.

The two teams that could be interested in signing Phillip Lindsay are the Buffalo Bills and Arizona Cardinals. Both teams are in search of an every down back. Phillip Lindsay will give them what they need for their offense.