A Patriots statement read: "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."
Hernandez joined the Patriots in 2010.