The Buccaneers released Martin on Tuesday, Rick Stroud of the Tampa Bay Times reports.
After following up a strong rookie year in 2012 with back-to-back disappointing seasons, Martin temporarily quieted his critics by amassing 1,673 yards from scrimmage and seven touchdowns in 2015, netting him a five-year, $35.75 million contract extension the following spring. However, Martin regressed badly thereafter, averaging less than three yards per carry in both of the past two seasons while missing time due to injury and an untimely four-game suspension, which delayed the start to his 2017 campaign. In cutting Martin loose, the Buccaneers will save $6.75 million against the cap in 2018 while taking on no dead money due to the structure of the contract. Martin's departure currently leaves Peyton Barber as the top candidate to start at running back in 2018, though there's a decent possibility the Buccaneers address the position through the draft or free agency in the coming months.