The New England Patriots cut ties with veteran wide receiver Brandon Lloyd, the team announced on Saturday. Lloyd was due a $3 million roster bonus this weekend, which led many to believe his release was inevitable.
A source told ESPNBoston.com the sides recently entered into talks on a restructured contract, although it is now apparent that the two sides were unable to strike a new deal. Lloyd was scheduled to earn a base salary of $1.9 million in 2013, which would charge New England $4.9 million against the salary cap. The Patriots were open to keeping Lloyd with a reduced salary.
Lloyd was a starting wide receiver for New England last season, playing 84.8 percent of the offensive snaps and finished with 74 catches for 911 yards and four touchdowns. In 11 years, Lloyd has 385 career receptions, 5,695 yards and 35 touchdowns.
2012 was Lloyd's first season as a member of the Patriots. The Boston Herald originally broke the news of Lloyd's release.
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