Bucs coach Greg Schiano made the announcement less than a week after the injury sidelined the track star following two catches for 13 yards in a loss to the Philadelphia Eagles on Sunday at Raymond James Stadium.
Demps, 23, was part of a trade last April that sent LeGarrette Blount to the New England Patriots. In addition to Demps, the Bucs received a seventh-round pick in the deal. The Bucs used that seventh-round pick in a trade with the Minnesota Vikings to move up in the draft to select running back Mike James in the sixth round, No. 189 overall.
Demps, a member of the 2012 U.S. Olympic track and field team, practiced with the Bucs for the first time on Sept. 11. He made his season debut in Week 4 against the Arizona Cardinals, and he has one carry for 14 yards this season.