Tate joined the Giants on a four-year, $37.5-million deal ahead of the 2019 season and registered 84 catches for 1,064 yards and eight touchdowns through 23 games with New York. His release will save the team $6.15 million in cap space, according to Over The Cap.
The one-time Pro Bowler racked up just 388 yards and two touchdowns on 35 receptions last season, marking his least productive campaign since 2011. He ranked fourth on the team with 52 targets, trailing tight end Evan Engram and wideouts Darius Slayton and Sterling Shepard.
Tate expressed discontent over his role with the Giants last season. He was caught yelling "throw me the ball" after catching a touchdown against the Tampa Bay Buccaneers in Week 8, and New York suspended him for its Week 9 contest against the Washington Football Team.
The 32-year-old will enter free agency looking to join his fifth NFL team. He previously spent time with the Seattle Seahawks (2010-13), Detroit Lions (2014-18), and Philadelphia Eagles (2018).
Mayo stood out during his debut campaign with New York in 2019, but the 27-year-old battled injuries and registered just 29 tackles through 11 appearances last year. The Giants will save $2.3 million in cap with the move.