Rams Releasing CB Cortland Finnegan

Veteran CB Cortland Finnegan announced via his Twitter account that the St. Louis Rams have released him.

• Albert Breer mentions that the Rams haven’t released Finnegan just yet, but the move will become official after the new league year begins.
• Adam Caplan mentions that the Rams have designated him as a Post-June 1 release.
• Ian Rapoport reports that Rams met with Finnegan Wednesday and presented him with options, including a pay cut.
  • Finnegan responded by saying goodbye to St. Louis on Twitter.

There was speculation for a number of months that Finnegan could be a cap casualty, and given the Rams current cap situation, as well as his poor 2013 season, it makes sense that the Rams would look to move on.

Finnegan, 30, was entering the third year of his five-year, $50 million contract. that included $27 million guaranteed. He had a cap figure of $10 million for the 2014 season and would have made a base salary of  $6 million to go along with a $3 million roster bonus was due on March 13.

• Tom Pelissero mentions that the Rams will save $7 million in cap space with this move.

Finnegan was limited to playing just seven games last year and totaled 27 tackles and an interception. He graded out as the second worst qualifying cornerback in the league, according to Pro Football Focus.