Browns cut 2-time Pro Bowler Joe Haden

The Cleveland Browns cut veteran corner and former top-10 draft pick Joe Haden, the team announced Wednesday morning.

"We want to thank Joe for all he has done for this organization both on and off the field," Sashi Brown, the team's executive vice president of football operations, said in a statement. "He has been a great teammate and a true asset to the Cleveland community. These are very difficult decisions, we have the utmost respect for Joe and in my eyes, he will always be a Cleveland Brown."

Haden was the seventh overall pick in the 2010 draft, and he quickly established himself as a top-flight corner. By 2014, he was a two-time Pro Bowl selection with a second-team All-Pro nomination.

However, his play declined over the past two seasons, due in part to injuries. He suited up for just five games in 2015 and played through a number of ailments in 2016.

Haden signed a five-year, $67.5-million extension ahead of the 2014 season, and his release just weeks before the 2017 campaign clears $6.7 million in salary cap space.

The Browns were rumored to be "aggressively" seeking a trade of Haden due to his price tag, his diminishing returns, and the team's overall efforts to rebuild a roster that won only one game in 2016.

Haden may not be a free agent for very long. He can sign with a new club after 4 p.m. on Wednesday and that appears to be his intention.

"Tons of interest in him. He will have a new deal with another team by tomorrow afternoon," said Haden's agent, Drew Rosenhaus, according to ESPN's Adam Schefter.