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"I'd like to thank Jeremy for his effort and dedication the past two seasons," GM John Dorsey said in a statement. "I have great respect for all players, which makes decisions like these very difficult, but we felt it was in the best interest of our club moving forward to part ways at this time. We wish Jeremy the best as he continues his career."

According to Profootballtalk.com, the move means that the Chiefs will absorb a $2.4 million cap charge this year and $4.8 million next year, instead of taking the full $7.2 million at once. The move also avoids a $9.75 million salary for 2017.

In 2016, Maclin finished tied for third on the Chiefs in catches and third in yards. He also missed four games due to a groin injury, but when he did play, he struggled to rekindle his connection with Alex Smith, as the two appeared to be uncharacteristically out of sync at times.

It was a far cry from 2015, when Maclin -- who was lured from Philadelphia with a five-year, $55 million free-agent deal -- scored a team-high eight touchdowns, posted the club's highest single-season reception total (87) since 2008 and became the first Chief to eclipse 1,000 yards (1,088) in four years.

Travis Kelce, Tyreek Hill and Kareem Hunt could see their value rise with Maclin out of the picture.

As for the rest of the receiving corps, Chris Conley and Demarcus Robertson are entering their third and second seasons, respectively, and Yahoo.com's Eric Edholm believes they could help offset the loss. The team also has Albert Wilson, who has started a number of games.

The Chiefs did not draft a receiver this year but did sign three undrafted receivers — Alabama’s Gehrig Dieter, Hawaii’s Marcus Kemp and Nebraska’s Alonzo Moore.