Murray was set to earn about $3.15 million in salary and bonuses this season. That cap number, along with the emergence of undrafted second-year running back Tony Jones Jr., led to the Saints' decision to release him.
The 31-year-old Murray served as a valuable backup behind Saints star Alvin Kamara over the past two seasons after signing a four-year, $14.4 million contract with the team in 2019. Murray notched 1,293 rushing yards, 411 receiving yards and 11 total touchdowns during that span.
Murray started his career with the then-Oakland Raiders and the Minnesota Vikings, making the Pro Bowl in 2015. He has recorded 4,991 rushing yards, 1,294 receiving yards and 45 total touchdowns over his seven-year NFL tenure.
New Orleans is scheduled to begin its 2021 regular season against the Packers on Sept. 12 at the Jacksonville Jaguars' TIAA Bank Field. The Saints -- temporarily displaced due to Hurricane Ida -- are considered the home team in the matchup.