The Cleveland Browns have released linebacker Mychal Kendricks in the wake of the 27-year-old being charged with insider trading.
Kendricks, who played his entire career with the Philadelphia Eagles from 2012 to 2017 before signing a one-year contract with the Browns earlier this summer, was formally charged by federal authorities on Wednesday after a lengthy investigation.
Browns general manager John Dorsey released a statement about the release, indicating that the team was aware of the investigation but was willing to allow due process to play out:
“Prior to signing Mychal, we were informed that there was a financial situation that he had been involved with in 2014. We were told Mychal had fully cooperated with investigators as a victim. From what was communicated at that time and based on the numerous questions we asked and further due diligence on our part, including checking with the league office, there was no information discovered that conveyed otherwise.
“Recently, we were provided an update on the matter and the circumstances have changed. We are now dealing with a different set of facts and the additional information we’ve gathered has led us to the decision to release Mychal from our team. Due to the ongoing legal nature of this situation, we will have no further comments.”
Kendricks helped the Eagles win the Super Bowl last year, with 77 tackles and two sacks. He has formally admitted to the charges, claiming he was duped by a “former friend” into making illegal investments.
— Ian Rapoport (@RapSheet) August 29, 2018
Depending on the punishment, there’s still a good chance Kendricks will find another job in the NFL once this controversy is behind him.