Byrd will be released by the Saints at the start of free agency, NFL Network's Ian Rapaport reports.
Despite his production on the field, Byrd's price tag ultimately became too big of a burden for the Saints. The eight-year vet was slated to earn $7.9 million this year and $22.9 million over the next three years. Byrd tallied 82 tackles in 2016, but with the emergence of Von Bell in the secondary, New Orleans decided to part ways with the 30-year-old sooner rather than later.