As reported first right here, the Chiefs have officially cut running back Larry Johnson.
Here's the full text of the release: "The Kansas City Chiefs released RB Larry Johnson on Monday. In 75 games (55 starts) with Kansas City, Johnson rushed 1,375 times for 5,996 yards (4.4 avg.) with 55 touchdowns. He also registered 151 receptions for 1,369 yards (9.1 avg.) with six TDs. He concluded his Chiefs career with 30 100-yard rushing games and also added two 100-yard receiving games.
"Johnson established an NFL single-season record with 416 rushing attempts in 2006 when he set a franchise single-season mark with 1,789 rushing yards. He originally entered the league as the Chiefs first-round selection (27th overall) in the 2003 NFL Draft out of Penn State."
As previously explained, he'll now be exposed to waivers. But unless someone wants to absorb his prorated $4.55 million base salary and $60,000-plus per-game roster bonus, he'll clear waivers and become an unrestricted free agent.
Johnson also will be entitled to collect the balance of his base salary as termination pay -- and to keep any money he makes if someone else signs him.