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UPDATE (2:49PM ET): Aaron Hernandez has been formally charged with murder.

After weeks of speculation that Patriots TE would be arrested for his possible connection to the murder of 27-year-old Odin Lloyd, the Police finally made their move Wednesday morning.

Around 8:30AM ET, Police took the 23-year old Hernandez out of his home in handcuffs, placing him in a marked squad car. As of right now it’s unclear what charges Hernandez is being booked on but it’s assumed he could be looking at murder, accessory to murder and/or obstruction of justice charges.

And, not more than two hours after the Hernandez arrest, the New England Patriots announced that they released the TE less than a year after signing him to a five-year, $40 million dollar contract extension.

Here is the team statement:

“A young man was murdered last week and we extend our sympathies to the family and friends who mourn his loss. Words cannot express the disappointment we feel knowing that one of our players was arrested as a result of this investigation. We realize that law enforcement investigations into this matter are ongoing. We support their efforts and respect the process. At this time, we believe this transaction is simply the right thing to do.”

The Patriots are obviously being very proactive in this but you cannot help to think how much worse it can get for Hernandez. This is especially the case since you have to think the Patriots know much more about what’s going on concerning Hernandez than the rest of the media does.

From a football standpoint the Tom Brady is now without his top five receivers from last season. Wes Welker is now a Bronco, Brandon Lloyd is a free agent, Rob Gronkowski is injured, Aaron Hernandez may be playing for the Massachusetts Prison League next season and Danny Woodhead is a Charger.

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