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Source: Jets cut 2024 third-round pick Malachi Corley

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Stephen A. laughs at Dan Orlovsky's Jets take (1:37)

Stephen A. Smith calls out Dan Orlovsky for his list of what it will take for Justin Fields to lead the Jets to the playoffs. (1:37)

FLORHAM PARK, N.J. -- A year ago, the New York Jets wanted Malachi Corley so much that they traded up and selected him with the first pick in the third round of the 2024 NFL draft.

On Tuesday, they cut him, a source confirmed to ESPN.

Corley, buried near the bottom of the depth chart throughout training camp, becomes the highest-drafted player from 2024 to be released, according to ESPN Research. The regime that picked Corley was fired last season, which certainly didn't help his chances.

There were jobs available in the Jets' receiving corps, but Corley was leapfrogged by a handful of players, including rookie free agents. He played 53 offensive snaps in the preseason, fifth among the New York receivers, but managed only one catch for 8 yards. He also returned four kickoffs for 101 yards.

Former general manager Joe Douglas was so smitten with Corley that he traded two draft picks (fifth round and third round) to move up seven spots, taking him 65th overall. Then-quarterback Aaron Rodgers also spoke highly of Corley, saying he was one of the best receivers in the draft.

At Western Kentucky, Corley was the self-proclaimed "YAC King" because of his ability to make yards after the catch. In fact, his total from 2021 to 2023 (2,070 yards) led the FBS over that span. After being drafted, he told reporters, "I'm hell to bring down."

As a rookie, Corley played only nine games, just 83 snaps on offense, and finished with three receptions for 16 yards. He was a healthy scratch in five games. Because he didn't play special teams, it was difficult to put him on the game-day roster.

The coaches felt his route running lacked precision. His maturity also came under scrutiny, with some in the organization privately questioning his approach, according to people with knowledge of the situation.

The low point was Halloween night. On Corley's first NFL carry, he wiped out what would've been an 18-yard touchdown by releasing the ball a split second before he crossed the goal line -- a premature celebration that cost his team six points and resulted in a loss of possession. Fortunately for him, the Jets pulled out a win over the Houston Texans, but the blooper was the defining moment of his New York career.

Ten months after Corley dropped the ball, the Jets dropped him.