The Morning Journal (Lorain, OH)
LB released in wake of insider trading scandal
The Browns released Mychal Kendricks after news broke he was indicted on charges of insider trading.
The Browns released linebacker Mychal Kendricks the evening of Aug. 29, about 12 hours after news broke he was indicted on charges of insider trading early in the morning.
Kendricks was going to be one of the top four linebackers on the Browns’ roster along with Jamie Collins, Joe Schobert and Christian Kirksey.
Kendricks started 13 games for the Super Bowl champion Philadelphia Eagles last season.
Kendricks, in a statement made when the news broke, apologized and admitted his guilt in the inside trader scheme that occurred from 2013-15 when he played for the Eagles. The version he told in the statement is different than the one he told the Browns when the Browns signed him as a free agent in June, according to Browns general manager John Dorsey.
“Prior to signing Mychal, we were informed that there was a financial situation that he had been involved with in 2014,” Dorsey said in a statement. “We were told Mychal had fully cooperated with investigators as a victim. From what was communicated at that time and based on the numerous questions
we asked and further due diligence on our part, including checking with the league office, there was no information discovered that conveyed otherwise.
“Recently, we were provided an update on the matter and the circumstances have changed. We are now dealing with a different set of facts and the additional information we’ve gathered has led us to the decision to release Mychal from our team. Due to the ongoing legal nature of this situation, we will have no further comments.”
Kendricks’ signed a oneyear, $2.25 million contract with the Browns. He and former investment banker analyst Damilare Sonoiki, who allegedly conspired with Kendricks on the scheme, could face up to 25 years in prison and a fine of up to $5.25 million as well as the seizure of any profits made from the insider trading if convicted.
Browns coaches were impressed with Kendricks’ versatility before the events of Aug. 29 unfolded.
“I think that he fits in perfectly here,” defensive coordinator Gregg Williams
said at the end of minicamp in June. “One of the things that we do here is every player has to play more than one position. That’s how we have the flexibility of the ‘next man up’ during the season and how you play the next best athlete, not the next best on the depth chart.
“Kendricks fits into that role. He is a multiple-position player. He is able to play inside and outside. He is able to play on the line of scrimmage, off of the line of scrimmage, and he will fit in with the packaging that we do.”