Cooper signed a five-year, $22.5 million contract with $8 million guaranteed in 2014. The contract, given under former coach Chip Kelly's watch, was controversial at the time after Cooper was forced to apologize for using a racial slur the previous season.
The Eagles will save $2.9 million on the cap by jettisoning Cooper, while incurring $2.4 million in dead money.
Drafted by the Eagles in the 5th round of the 2010 draft, Cooper, 28, has seen his production nosedive the past two seasons after garnering a career high 835 yards and eight touchdowns on 47 receptions in 2013. After getting the new contract, Cooper earned 577 and 327 yards in the past two seasons, respectively, with just five combined scores. He averaged just 28.25 receiving yards per game -- zero 100-yard receiving efforts -- in his final two seasons with the Eagles. Cooper did not catch a pass in his final two contests in Philadelphia.
Given his dwindling production and limited skills, it will be interesting to see if Kelly has any interest in bringing Cooper on board in San Francisco this offseason.
Here are some other transactions that took place on Monday: