Report: Rams releasing Bobby Wagner after 1 season

The Los Angeles Rams mutually agreed to part ways with linebacker Bobby Wagner, sources told ESPN's Adam Schefter.

Los Angeles creates $5 million in cap space while taking on $7.5 million in dead money, according to Over the Cap.

The Rams signed Wagner to a five-year, $50-million contract last March after the Seattle Seahawks released him following a 10-season stint.

The veteran defender started all 17 games in his only campaign with the Rams, racking up a career-high six sacks to go along with a team-leading 140 tackles and two interceptions.

The Utah State product enjoyed an illustrious career after the Seahawks took him in the second round of the 2012 draft. Wagner earned six first-team All-Pro nominations and racked up eight Pro Bowl nods during his Seattle tenure. He was a focal member of the Seahawks' Super Bowl-winning squad in 2013.

Wagner, 32, will officially become an unrestricted free agent on March 15, according to NFL Network's Mike Garafolo.