The PoinbankDenver Broncos are moving on from one of their marquee additions from just two offseasons ago.

According to multiple reports, the team is releasing defensive end Randy Gregory on Wednesday, midway through his second season with the franchise after he signed a five-year contract in March 2022 worth up to $70 million. Per Pro Football Talk, the decision was mutual, as Gregory was wanting to move on.

He now becomes a free agent and will be free to sign with any team looking to add a veteran pass rusher.

Gregory appeared in only 10 games for Denver, after he missed 11 last year with a knee injury. He recorded 21 tackles, three sacks and two forced fumbles with the Broncos (1-3).

In August, Gregory spoke to a reporter for the Broncos' official website to address his failure to live up to expectations in the 2022 season and his plans for this year.

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

"I think my thing is fulfilling my end of the agreement, and a big part of that is being able to be available and be healthy," Gregory said then. "I truly feel like if I'm out there for 17 games-plus, I'll do what I need to do. And that's the plan."

Denver is in the middle of a rebuild with new coach Sean Payton and the team has struggled out of the gate in 2023. The Broncos defense, in particular, has been woefully ineffective, ranking last in the NFL in total defense (461.5 yards per game allowed), scoring defense (37.5 points per game), rushing defense (176), passing yards per play (8.92) and first downs allowed (26).

Gregory's addition to the Broncos in March 2022 was an interesting one. After starting his career with the Cowboys, who selected him in the second round of the 2015 NFL draft, Gregory originally agreed to terms with Dallas. The Cowboys announced the move on their social media accounts and even published an article on the team's official website but later had to scrub the links after Gregory decided to sign with Denver instead, following last-minute negotiations.

Gregory, 30, has totaled 106 tackles and 19.5 sacks in his NFL career.