The 49ers released Oliver on Friday, Matt Maiocco of NBC Sports Bay Area reports.
Oliver just had a fairly successful season as a rotational cornerback in his first year with San Francisco, but it seems as if the team has now decided to part ways with the 27-year-old. He was able to post 67 total tackles, two pass deflections and one interception while appearing in all 20 of the 49ers' contests (including playoffs). This move creates $2.4 million in cap space but also leads to an approximate $1.5 million dead cap charge, per Nicholas McGee of AtoZ Sports Nashville.