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Broncos release 3-time Pro Bowler T.J. Ward

Ron Chenoy / USA TODAY Sports

The Denver Broncos have released three-time Pro Bowl safety T.J. Ward.

Ward had one year left on his contract and cutting him saves the Broncos $4.5 million in cap space, according to spotrac.com.

The 30-year-old has been a central part of the Broncos' dominant defense for the past three seasons, making the all-star game in his first two years and helping Denver win Super Bowl 50.

"This was a difficult decision to part ways with T.J. after everything he's done for our football team," team president and general manager John Elway said in a statement. "He was a respected teammate whose attitude and physical mindset played a big part in our success, especially during our Super Bowl run."

Along with cornerbacks Aqib Talib and Chris Harris, Ward helped form one of the league's best secondaries.

However, Ward's been limited by a hamstring injury during the preseason, allowing 2016 third-rounder Justin Simmons to impress and ultimately make Ward expendable - especially considering the cap savings.

The Broncos reportedly tried to trade Ward, but were unable to find any suitors, likely due to his contract and age.

Related: T.J. Ward's teammates stumped by reported trade talks

Still a highly effective player, Ward will likely be one of the most sought-after free agents on the market.

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