Jordy Nelson is a free agent.
The Green Bay Packers released the former second-team All-Pro wide receiver to clear salary-cap room Tuesday.
The net result is that Green Bay will replace Nelson by signing free-agent tight end Jimmy Graham. Graham's contract will reportedly be for three years, but the dollar amount is still unknown.
Graham had 65 catches for 923 yards and six touchdowns last season.
Nelson would have carried a $12.5 million cap hit for the upcoming season, as he still had one-year left on the four-year, $39 million deal he signed before the 2015 season.
The question now is: What's the market like for a 32 year-old, oft-injured receiver who has seen a dramatic reduction in catches, receiving yards and touchdowns this past season?
The easy answer is that it's probably not great. Which means the Nelson's price tag on the open market could come down. Even with his declining health and production, some team could offer him big money.
Realistically, the best Nelson could hope for is a two, maybe three-year contract. As the projected cap hit? It could come in somewhere around $5 million per year.
