NFL.com's Ian Rapoport reported that it's possible Lloyd will return at a lesser salary. Lloyd was due a $3 million roster bonus after a season in which he caught 74 passes for 911 yards and four touchdowns, but it was clear he wasn't going to get that bonus.
Lloyd didn't provide the vertical threat that the Patriots were hoping for, and there were reports that his erratic behavior was not a great fit in the locker room. His potential future in New England could depend on what else the Patriots get accomplished in free agency. Lloyd would be the best available free-agent wide receiver, but that's not saying much. The next best might be another Patriot: Julian Edelman.
The team has yet to extend an offer sheet to Pittsburgh Steelers' restricted free agent Emmanuel Sanders, although that is expected to happen. The team also added Danny Amendola and Donald Jones in free agency, but lost Wes Welker. If Lloyd is let go, the Patriots are extremely thin at wide receiver.Follow Gregg Rosenthal on Twitter @greggrosenthal.