Bobby Wagner and the Los Angeles Rams have agreed to part ways.

When Wagner's release becomes official, the Rams will save $5 million in salary cap space, but they will also incur a $7.5 million dead money charge.

The Rams have the option of designating Wagner a post-June 1 release, which would save them $8 million, though that savings can't be credited to their cap until this summer. 

Wagner joined the Rams after signing a five-year, $50 million deal with $20 million in guarantees on March 31, 2022.