Dennard, a seventh-round pick back in 2012, appeared in 29 games for the Patriots, a run that included five picks and 86 tackles.
Patriots coach Bill Belichick drafted a safety and cornerback over the weekend, which likely made the injured cornerback expendable.
Before some legal troubles, Dennard was looked at by some as a late first- or early second-round pick. At almost 6 feet and 205 pounds, he's certainly physical enough to warrant a look from some other teams out there.
As evidenced by the draft, good cornerback help is hard to come by.