Just before Tuesday afternoon’s trade deadline, the Chargers agreed to trade linebacker Daiyan Henley to the Broncos. Late on Wednesday night, the trade was canceled.

Both the Chargers and the Broncos have announced that Henley will remain with the Chargers. Neither team explained why, but typically that would happen after the trade deadline only if the player failed his physical.

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“The proposed trade involving Chargers linebacker Daiyan Henley will not be finalized,” the Broncos said in a statement. “We have great respect for Daiyan as a player and person, and we wish him all the best moving forward.”

The Chargers posted “Welcome back, Daiyan” on social media, about 30 hours after posting, “Thank you, Daiyan” to officially announce the trade.

According to ESPN, Henley was at the Broncos’ facility on Wednesday and took a physical, so presumably the Broncos’ medical staff decided to nix the trade. Henley did suffer a shoulder injury in Week 8 against the Rams, but he was a full participant in practice the next week and played well in Week 9 against the Texans. There have been no indications that he has had any other health concerns.

The Broncos had agreed to send a 2027 fourth-round draft pick and a 2028 fifth-round pick to the Chargers for Henley, who is in the final year of his rookie contract and is slated to become an unrestricted free agent in March.