The New England Patriots are releasing four-time Pro Bowl cornerback Stephon Gilmore after the two sides weren't able to agree to terms on a restructured contract, according to ESPN's Adam Schefter.

Gilmore had been looking for a reworked contract for some time and was involved in trade rumors going back to last season. The Patriots were barely under the salary cap and were looking for cap relief, but now after this move they've cleared nearly $6 million more in space. The veteran cornerback was in the last year of his contract, so New England doesn't owe him anything.

The 31-year-old hasn't played this season because of a quad injury. Gilmore underwent surgery on the quad at the end of last season. He's eligible to come off the physically unable to perform list after Week 6.

Gilmore joined the Patriots for the 2017 season after playing the first five seasons of his career with the Buffalo Bills. He made one Pro Bowl with the Bills, but he really came into his own with New England. He made First-Team All-Pro twice and had a streak of three consecutive Pro Bowls going coming into 2021. He also won Defensive Player of the Year in 2019 and played a key role in the Super Bowl LIII win over the Los Angeles Rams, sealing the win with an interception of Jared Goff.

Schefter reports Gilmore is expected to have a “robust” market in free agency. He should be good to go once he's eligible to come off the PUP list.