The Patriots have been trending on Twitter today since announcing the transaction on its account, and later releasing an official 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,” the statement read.
“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."
Hernandez was reportedly booked at the North Attleborough police station.
UPDATE: Aaron Hernandez has been charged with murder in the death of Odin Lloyd, according to USA Today. The former New England Patriots tight end reportedly faces five charges, which include charges of possessing a firearm without a license, possessing a firearm without an ID card.