NFL.com's Ian Rapoport reported Thursday that the Arizona Cardinals and Kevin Kolb would soon be severing ties and that the quarterback would not be on the roster by this weekend.
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The team announced Friday morning that Kolb has been released.
Acquired from the Philadelphia Eagles at the exorbitant cost of Dominique Rodgers-Cromartie, a second-round draft pick and a six-year, $65 million contract in July of 2011, Kolb posted a 6-8 record with 17 touchdowns along with 16 interceptions in 15 games with the Cardinals.
The risky trade -- or, perhaps more accurately, the unwillingness to pull the cord after one season -- ended up costing general manager Rod Graves and coach Ken Whisenhunt their jobs.
Due an untenable $9 million base salary on top of a $2 million roster bonus that was set to trigger at 4 p.m. ET on Friday, Kolb never had a chance of keeping his roster spot without a pay cut. The two sides reportedly discussed different ways of restructuring his contract, but they couldn't find middle ground.
The Cardinals will leave the door open for Kolb to return later in the offseason, reported Adam Caplan of The Sideline View on Friday.
However, with quarterbacks Drew Stanton and Brian Hoyer both under contract and vying for a chance to start, Kolb probably will try to seek greener pastures. It doesn't get any greener than the New York Jets, a team that has already discussed adding Kolb to their quarterback mix "at the right price."
As Around the League's Gregg Rosenthal mentioned in his wrap-up of free agency's third day, the quarterback-needy Buffalo Bills could also kick Kolb's tires now that he's been set free.
Follow Chris Wesseling on Twitter @ChrisWesseling.