A big-name target has hit the open market at the Los Angeles Chargers' expense.
The team announced on Wednesday that is has released wide receiver Mike Williams.
L.A. was well over the league's $255.4 million salary cap entering Wednesday and needed to get under it before before the new league year begins at 4 p.m. ET/1 p.m. PT. By releasing Williams, the team will save $20 million against the cap and have $12.46 million in dead money, per Over The Cap.
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Williams has been with the Chargers since the team selected him with the seventh overall pick in the 2016 NFL Draft. Over seven seasons, he has 309 receptions for 4,806 yards and 31 touchdowns. He was limited to just three games in 2023 after suffering a torn ACL against the Minnesota Vikings in September.
NFL Media's Ian Rapoport reported that the Chargers are hoping to bring Williams back, but for now, the 29-year-old joins Calvin Ridley and Marquise Brown as the top available wide receivers as of midday Wednesday. Williams is under contract for 2024 and is set to become a free agent next offseason.
In another cap-related move, star pass rusher Khalil Mack agreed to restructure his contract, ESPN's Adam Schefter reported.