The Atlanta Falcons have released cornerback Casey Hayward with a failed physical designation halfway through the two-year deal he signed last season.

By releasing Hayward, the Falcons are saving $5 million in cap space while incurring a $2 million dead cap hit from his signing bonus.

The Atlanta Falcons are acquiring former No. 3 overall pick Jeff Okudah from the Detroit Lions, according to the cornerback's agent.

According to a source, the Falcons will send a 2023 fifth-round pick to the Lions.

While injuries limited Okudah to just 10 games over his first two seasons, he started 15 games for the Lions in the 2022 season.