Busy day for Green Bay: Packers releasing Jordy Nelson, expected to sign Jimmy Graham

In recent years, Green Bay Packers fans have largely been spectators during free agency, as former general manager Ted Thompson believed in sticking with home-grown players.

But new GM Brian Gutekunst may not harbor the same belief.

In the span of a few minutes on Tuesday afternoon came news of two moves for the Packers: according to ESPN’s Adam Schefter, the team is releasing receiver Jordy Nelson but expected to sign free-agent tight end Jimmy Graham.

On his way out: the Green Bay Packers will reportedly cut wide receiver Jordy Nelson. (AP)

Play Tourney Pick’em | Fill out your bracket | Print it | Play against Draymond Green

A second-round pick in 2008, Nelson recorded 550 catches for 7,848 yards and 69 touchdowns in a decade with Green Bay; he missed the entire 2015 season due to a torn ACL suffered in a preseason game. His 550 receptions are third-most in franchise history, behind Donald Driver and Sterling Sharpe.

Now 32-years-old, Nelson was slated to earn $9.25 million in base salary for 2018, and with bonuses and prorated money would have counted $12.52 million against the cap.

There had been a lot of talk in recent days about a reunion between Graham and the New Orleans Saints, the team that traded him to Seattle in 2015. But Graham is headed to the Packers instead; though financial details weren’t immediately known.

Graham was named to the Pro Bowl for the fourth and fifth times in his career in 2016 and 2017. He will be a big addition for Green Bay, though the team is also subtracting a key piece with the release of Nelson.

More from Yahoo Sports:
Report: Cousins to sign fully guaranteed deal with Vikings
Pete Thamel: How a ‘sense of crisis’ may lead to major NCAA change
NFL star: Sherman got ‘absolutely crushed’ by 49ers
End is coming? Brady’s words make you wonder