The Eagles had to pay Owens a $5 million roster bonus if Owens was on the roster past 4 PM Tuesday afternoon.
Owens now becomes a free agent and is available to shop himself to any team in the league.
The teams expected to pursue him include the Dallas Cowboys, the Denver Broncos and the Kansas City Chiefs.
The Chiefs had been trying to workout a trade for Owens, however now, Owens can sign with any team.
Terrell Owens Officially Released
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