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The Browns Have Released Linebacker Mychal Kendricks

A Cleveland Browns helmet sitting on the field.

PHILADELPHIA, PA - SEPTEMBER 11: A Cleveland Browns helmet rests on the field prior to the game against the Philadelphia Eagles at Lincoln Financial Field on September 11, 2016 in Philadelphia, Pennsylvania. The Eagles defeated the Browns 29-10. (Photo by Mitchell Leff/Getty Images)

The Cleveland Browns are moving on from star linebacker Mychal Kendricks. The 27-year-old linebacker was acquired by the franchise earlier this offseason after spending the first six seasons of his NFL career with the Philadelphia Eagles.

ESPN NFL insider Adam Schefter reports that the Browns have decided to release Kendricks about a week before the 2018 regular season starts.

"Browns now have released LB Mychal Kendricks," he tweeted.

Earlier today, reports surfaced of Kendricks being involved in insider trading. Kendricks was indicted on insider trading charges today.

Kendricks released a statement on the allegations on social media.

“Four years ago, I participated in insider trading, and I deeply regret it,” he said. “I invested money with a former friend of mine who I thought I could trust and who I greatly admired. His background as a Harvard graduate and an employee of Goldman Sachs gave me a false sense of confidence.”

The Browns released a statement on Kendricks earlier today, saying he wouldn't be playing in the team's final preseason game.

As it turns out, Kendricks won't be playing in any regular season games for the Browns, either. Stay tuned for more developments.