It looks like Leonard Floyd's time in Los Angeles is over.
The former Chicago Bears first-round draft pick is set to be released on Friday, per ESPN's Adam Schefter.
Schefter reported earlier in the week the team as looking to trade Floyd, and if a partner couldn't be found would grant Floyd his release.
Floyd had a $22 million cap hit next season. Cutting Floyd before June 1 leaves the Rams with $19 million in dead money and saves only $3 million, according to Over The Cap. If the Rams designate Floyd as a post-June 1 cut, it would cut the dead money to $6.5 million and be a cap savings of $15.5 million.
Schefter's wording of granting his release today, makes it somewhat unclear which path they're taking. It's hard to imagine the Rams not trying to save an extra $12.5 million.
But the Rams are also under pressure to get under the $224.8 million cap before the start of the league year on March 15.
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Floyd began his career in Chicago after being drafted ninth overall by the Bears in the 2016 NFL Draft. He had 18.5 sacks in his four seasons with the Bears before signing with the Rams in 2020 free agency.
Floyd’s numbers improved once he got to L.A. He accumulated at least nine sacks in each of the last three seasons and also added a Super Bowl ring to cap off the 2021 season.
After playing on a one-year deal in 2020, the Rams signed Floyd to a four-year, $64 million deal in 2021.
The Rams appear to be moving on from other veterans on top of Floyd. The team released Bobby Wagner last month, cornerback Jalen Ramsey has been in trade rumors and wideout Allen Robinson reportedly has been given permission to seek a trade.
The team is coming off a dreadful 2022 season following their Super Bowl LVI triumph. With a 5-12 record, the Rams finished as the worst defending Super Bowl champions in NFL history.
As if that wasn’t bad enough, they do not own their first-round pick (No. 6) in the 2023 NFL Draft after dealing it in the Matthew Stafford trade. While that swap helped net the organization a Lombardi Trophy, it could be a while before the Rams get back to the Super Bowl stage, especially when they’re letting go of talented players across the roster.