The trade cannot be processed until the new league year begins on March 18.
Bouye has two years remaining on his contract after he signed a five-year, $67.5 million deal in 2017 with Jacksonville. He is expected to make a base salary of $13 million with $15.4 million going against the Jaguars' 2020 salary cap. Due to the limitations his salary could place on the team, there was speculation that Jacksonville might trade Bouye this offseason.
Jaguars general manager Dave Caldwell addressed the team's potential decision on Bouye at the NFL combine.
"Those are some things that we're discussing with coach Wash — and A.J. [Bouye] had a nice year last year," Caldwell said. "We'll explore all options with him but he still has a lot of football left in him. Again, another player that we really like here as a person and as a guy and obviously you guys know the salary restrictions and all that stuff."
The Broncos added Bouye since CB Chris Harris Jr. is set to become an unrestricted free agent. Bouye, 29, intercepted eight passes and broke up 34 during three seasons with Jacksonville.