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Marshall amassed 788 yards receiving and three touchdowns in his second season with the Jets.
The 32-year-old wideout, who will turn 33 later this month, was scheduled to make $7.5 million in 2017 -- a relative bargain for a receiver capable of putting up 100-plus catches and 1,500 yards in a season like he did with Ryan Fitzpatrick in 2015.
ESPN.com suggests the Jets felt Marshall was expendable because they have promising young talent at receiver, including Quincy Enunwa and Robby Anderson. But his departure leaves them without a proven No. 1 target.
Eric Decker was a 1,000-yard receiver for the Jets in 2015, but his status is uncertain because of health reasons. He underwent surgeries for hip and shoulder injuries last season, and it's unclear when he will return. According to ESPN.com's Rich Cimini, there's a good chance Decker will miss training camp.
All that said, New York Newsday staffer Kimberly A. Martin reports the move comes at Marshall's request. The team needs to get younger and Marshall wants to find a better fit.
In 11 seasons, Marshall has 941 catches (18th most in NFL history) for 12,061 yards (24th most) and 82 touchdowns (23rd).
While Marshall has always been an elite wideout, his off-field antics have rubbed some with the Broncos (2006-2009), Dolphins (2010-2011) and Bears (2012-2014) the wrong way. There were even issues with the Jets.
As NJ.com's Connor Hughes notes, Marshall clashed with teammate Sheldon Richardson, which left a "dark cloud" over the Jets in 2016, per Revis. Enunwa said it's sometimes hard to separate Marshall's message from his delivery.
Marshall also acknowledged his role in the various locker-room arguments the Jets endured this season and admitted he could have improved the timing of the messages he tried to deliver to teammates.
"Sometimes you have to wait (until) Monday morning or Tuesday morning to have those types of conversations," Marshall said. "So I learned my lessons. Some things blew up on my face. I'll take that. I'll chalk it up and I will be a better person next year."
And if that happens, it will be with the fifth team of his career. Worth noting: Marshall has yet to reach the postseason in his 11-year career.