The Titans announced their intentions Thursday, when general manager Jon Robinson said in a statement that Murray "was a pro in every facet and we wish him and his family the best moving forward."
Murray ran for an AFC-leading 1,287 yards and nine touchdowns to make the Pro Bowl in 2016, his first year with the Titans. He ran for 659 yards and six touchdowns last season as Derrick Henry gradually took a bigger role in the running game.
Murray, 30, dealt with a knee injury late in the year and missed the Titans' final regular-season game and two playoff contests. He was due to make a $6.25 million base salary in 2018, and the Titans wanted Henry to take over as their lead running back.
Henry, the 2015 Heisman Trophy winner and a second-round draft pick in 2016, rushed for a team-high 744 yards last season.
The Titans acquired Murray in a March 2016 trade with the Philadelphia Eagles. Murray had spent one year with Philadelphia after playing four seasons with the Dallas Cowboys. Murray was playing for Dallas in 2014 when he won the NFL rushing title and was voted Offensive Player of the Year.
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