Sources: Patriots will release DeVante Parker, as well as Antoino Gibson

FOXBOROUGH, Mass. — The New England Patriots have informed veteran receiver DeVante Parker that they will release him on Wednesday, sources told ESPN's Adam Schefter.

His agent, Jimmy Gould, told ESPN that Parker has now received permission to talk to other teams.

Meanwhile, the Patriots agreed to a three-year deal with former Washington running back Antonio Gibson that has a base value of $11.25 million and a maximum value of $17.25 million, according to a source.

Gibson will be a great complement to No. 1 Rahammond Stephenson, who is entering the final year of his contract in 2024. Gibson has a receiver-based background, having totaled 642 carries for 2,643 yards (4.11 avg.) with 22 touchdowns. His career lasted four years, adding 172 receptions for 1,283 yards with 7 touchdowns.

As for Parker, who will enter his tenth season in the NFL in 2024, he signed a new three-year contract with the Patriots worth up to $33 million last July. He was a favorite of former head coach Bill Belichick for his ability to make plays on the field.

Parker finished with 33 receptions for 394 yards and no touchdowns scored last season.

Originally selected by the Dolphins in the first round of the 2015 draft, the 6-foot-3, 215-pound Parker played the first seven years of his career in Miami. He was acquired by the Patriots in exchange for their third-round pick in April 2022.

The Patriots are reshaping their offense under first-year coach Jerrod Mayo and new offensive coordinator Alex Van Pelt.