The New England #Patriots have released Aaron Hernandez.— New England Patriots (@Patriots) June 26, 2013
Hernandez is involved in the investigation of the murder of Odin Llyod. The Patriots tight end was arrested by local and Massachusetts state police Wednesday morning. He's expected to be arraigned later Wednesday, at which point the charges against him will become known.
"A young man was murdered last week and we extend our sympathies to the family and friends who mourn his loss. Words cannot express the disappointment we feel knowing that one of our players was arrested as a result of this investigation. We realize that law enforcement investigations into this matter are ongoing. We support their efforts and respect the process. At this time, we believe this transaction is simply the right thing to do."
The police have investigated Hernandez's role in Lloyd's death for more than a week now. Lloyd's body was found less than a mile from Hernandez's estate on June 17. Investigators conducted their first search of Hernandez's home one day later.
Hernandez was signed last August to a five-year, $40 million deal by New England, hoping to pair him long term with running mate Rob Gronkowski. However, things have rapidly changed and caused the Patriots to act in a swift manner.
With the release, New England could be on the hook for $10 million, according to Tom Pelissero.