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Mychal Kendricks released by Cleveland Browns

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There it is.

NFL: Super Bowl LII-Philadelphia Eagles vs New England Patriots Mark J. Rebilas-USA TODAY Sports

The Cleveland Browns released former Philadelphia Eagles linebacker Mychal Kendricks on Wednesday evening, according to an official announcement from the team.

This development comes not even 12 hours after it was revealed that Kendricks was charged for insider trading.

Kendricks has now been cut twice this offseason. The Eagles terminated his contract back in May. The move saved Philadelphia $6 million in cap space. Kendricks then signed a one-year, $2.25 million deal with the Browns that included $500,000 guaranteed.

The legal ramifications of Kendricks’ actions remain to be seen. Independent of those, the NFL can also decide to punish Kendricks under the league’s personal conduct policy.

It’s entirely possibly that Kendricks, who turns 28 in September, will never get another shot in the NFL.

Here’s the statement from Browns general manager John Dorsey:

Prior to signing Mychal, we were informed that there was a financial situation that he had been involved with in 2014. We were told Mychal had fully cooperated with investigators as a victim. From what was communicated at that time and based on the numerous questions we asked and further due diligence on our part, including checking with the league office, there was no information discovered that conveyed otherwise.

Recently, we were provided an update on the matter and the circumstances have changed. We are now dealing with a different set of facts and the additional information we’ve gathered has led us to the decision to release Mychal from our team. Due to the ongoing legal nature of this situation, we will have no further comments.