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MIAMI (CBSMiami) – According to multiple reports, the Miami Dolphins are expected to release Pro Bowl cornerback Brent Grimes sometime this week.

The Sun-Sentinel is reporting that the Dolphins approached Grimes with the intention of trying to restructure his four-year, $32 million contract that was signed prior to the 2014 season.

Grimes declined to redo his deal and intends to test the free agent waters, per the report.

The Dolphins will free up $6.5 million in salary cap space by cutting Grimes.

The down side is that without Grimes, the Dolphins don't have any starting-caliber cornerbacks.

Earlier in the day it was reported that Miami was involved in trade talks with the Philadelphia Eagles for cornerback Byron Maxwell.