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Patriots release Brandon Lloyd     -- Sat Mar 16 2:00 pm --

Receiver due $3 million option bonus
The New England Patriots have released wide receiver Brandon Lloyd, the team announced Saturday. Lloyd was due a $3 million roster bonus this weekend. The Patriots were open to keeping Lloyd with a reduced salary. (ESPN)

FF Today's Take: The Patriots will save $4.9 million against the cap, but will be hit with $2 million in dead money. There is a chance Lloyd will be brought back at a reduced cost but as of now the Patriots have parted ways with their top two wideouts from last season.