The Titans have released veteran quarterback Matt Hasselbeck.

The 37-year-old, 14-year pro was entering the third and final year of his contract, and was scheduled to make $5.5 million in base salary. Including bonus money, he would count $7.5 million against the salary cap.

The Titans and Hasselbeck’s agent had been discussing a restructured contract that would have cut the quarterback’s salary.

“I want to thank Matt for his contributions to our team over the last two years,” said Titans general manager Ruston Webster. “He was an important part of the transition process - he was a pro at every turn and he provided an example to the rest of the team. I know that we are a better team for his being here and we wish him the best.”

Last week Hasselbeck said he knew that being released was a possibility.

“Well, yeah, if we can’t come to an agreement, I guess that’s what they’d have to do. That’s just how it goes,” Hasselbeck said.