The Los Angeles Rams and nine-time All-Pro linebacker Bobby Wagner mutually agreed Thursday to part ways, sources told ESPN's Adam Schefter.
The move will save the Rams $1.5 million in salary cap space but result in a dead money charge of $7.5 million. If the Rams designate Wagner as a post-June 1 release, the team's salary cap savings would jump to $8 million.
The Rams are approximately $13.7 million over the cap, according to the Roster Management System.
Wagner, 32, signed a five-year contract with the Rams last March after he was released by the Seattle Seahawks.