The Broncos are down to two quarterbacks.
Rypien signed with the team as an undrafted free agent last year and opened the season on the practice squad. He was promoted to the active roster to back up Brandon Allen after Joe Flacco was injured, but returned to the practice squad once Lock was healthy.
Klis adds that the team hopes to bring Rypien back to the practice squad to serve as their third quarterback again this year.
According to various reports, the Broncos have also parted ways with linebacker Josh Watson, wide receiver Trinity Benson, wide receiver Juwan Winfree, safety P.J. Locke, linebacker Derrek Tuszka, running back Jeremy Cox, tackle Darrin Paulo, tackle Tyler Jones, wide receiver Kendall Hinton, cornerback DeVante Bausby, linebacker Justin Hollins, safety Alijah Holder, linebacker Malik Carney, tackle Hunter Watts, and offensive lineman Patrick Morris.