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Sources: Dolphins to release Byron Jones in cost-cutting move

MIAMI -- The Dolphins plan to release cornerback Byron Jones on March 15, allowing him to enter free agency, sources told ESPN's Adam Schefter on Tuesday.

Jones will be designated a post-June 1 cut, which will save the team $13.6 million in 2023. He will represent an approximate $10 million cap hit in 2024, however.

Jones' release is a critical move toward creating salary cap space for a team currently $17.7 million over the limit, according to Over The Cap.

The move comes just three years into a five-year, $82.5 million contract that Jones signed with Miami in 2020.