ENGLEWOOD, Colo. -- Running back Phillip Lindsay and the Denver Broncos have "mutually agreed'' to go their separate ways.

Just hours after the Broncos signed running back Mike Boone in free agency, Lindsay's representatives and the Broncos agreed the best course was for the Broncos to rescind the restricted free-agent tender and for Lindsay to become a free agent. The Broncos had tendered Lindsay, who was named to the Pro Bowl after his rookie season in 2018, at the lowest level -- the right of first refusal -- just before the start of free agency.

Much like last season, when the Broncos signed Melvin Gordon to a two-year, $16 million deal and did not sign Lindsay to a new deal after then-general manager John Elway had said the Broncos "would look at that,'' the Broncos signed Boone to a two-year deal Wednesday.

Lindsay posted on social media Thursday morning that "I'm very appreciative for my time with the Denver Broncos. As a Colorado kid, I was able to fulfill my dream of playing for my home team. I want to thank my teammates, coaches, staff and everyone involved in the Broncos organization who made this possible for me.''

Lindsay, 26, a Denver South High School graduate as well as the first player to participate in the middle school football program the Broncos sponsor to go on to play for the team, finished this past season on injured reserve with knee and hip injuries.

Often a big-play threat, Lindsay rushed for at least 1,000 yards in back-to-back seasons in 2018 and 2019, but he also had wrist surgery following both of those years. Last season, Gordon finished as the team leader in carries, rushing yards and rushing touchdowns as Lindsay suffered a concussion to go with the knee and hip injuries.

Lindsay finished last season with 502 rushing yards and one touchdown to go with seven catches.