After failing to find fair value in the trade market, the St. Louis Rams have released wide receiver Torry Holt.

NFL.com reports that the former seven-time Pro Bowler was due to receive a $1.25 million roster bonus on March 17, and the rebuilding Rams were not interested in retaining him at his $8 million salary. The Rams are in the process of a roster overhaul in an effort to get younger as they rebuild after going 5-27 over the last two seasons. Since the end of last season they've hired a new general manager, Billy Devaley, a new coach, Steve Spagnuolo, cut several veteran players and signed three free agents from other teams.

The release of the 32-year-old Holt coupled with the earlier release of 33-year-old tackle Orlando Pace cleared out $14 million of cap room for the Rams. Holt ranks 11th on the league's all-time reception list with 869 catches, but totaled only 796 yards and three touchdowns in 2008, the lowest total of his career.

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