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An NFL source confirmed both moves, which were reported first by ESPN's Adam Schefter.

With Jordy Nelson and Randall Cobb on the decline, Gutekunst is intrigued by the marquee names available at wide receiver.

The decision to cut Nelson creates $10.2 million in cap space for the Packers and leaves just $2.3 million in dead money. He caught 122 passes in his senior year for 1,606 yards and 11 touchdowns. The 2014 Pro Bowler and 2016 National Football League leader in receiving touchdowns developed an uncanny rapport with Aaron Rodgers, who never shied away from throwing Nelson open on the boundaries with their patented back-shoulder telepathy. The announcement came minutes after news broke that the team plans to sign tight end Jimmy Graham.

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The Packers, of course, didn't make the playoffs last season.

In Nelson's ten-season career with Green Bay, he caught 550 passes for 7,848 yards and 69 touchdowns. Nelson was selected to the Pro Bowl and named second-team All-Pro by The Associated Press for his performance during the 2014 season in which he set career highs in receptions (98) and receiving yards (franchise-record 1,519) while also hauling in 13 touchdowns. New general manager Brian Gutekunst settled on releasing Nelson, who will turn 33 in May and is coming off arguably his worst season in the NFL.

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