NFL Network's Mike Garafolo reported Friday that receiver Paul Richardson is being let go by the team, per a source informed of the situation. The team later confirmed the transaction.
The team creates $2.5 million in salary cap savings with $6 million in dead money by releasing Richardson.
After signing his impressive contract in 2018, Richardson didn't live up to the deal. Bungled by injuries, he appeared in just 17 games in two seasons and totaled 507 receiving yards with four touchdowns on 48 receptions.
Other news we're monitoring around the league:
»Baltimore Ravens offensive lineman James Hurst has been suspended for the first four games of the 2020 regular season for violating the league's policy on performance-enhancing substances. Hurst is eligible to participate in all preseason practices and games. He can return to the active roster the Monday following the team's fourth game.