The Cleveland Browns are working with Odell Beckham Jr.'s representatives to negotiate an agreement on terms under which they would release the wide receiver, the team announced Friday.

"After careful consideration, internal discussions and conversations with Odell and his representation, we've determined that it is in the best interest of all parties involved that Odell no longer play for the Cleveland Browns," said Browns GM Andrew Berry in a statement. "We appreciate all his efforts and contributions while in Cleveland, but we've just reached a point where it is best that we move forward as a team without Odell. We are finalizing the process of granting Odell his release and we wish him well as he continues his career."

The Browns are converting Beckham's base salary into signing bonus to lower his cap number in an attempt to save money, sources told ESPN's Adam Schefter.

Once the contract is finalized -- expected to be anytime in the next few days -- Beckham will be released. He can't be claimed on waivers until next week.

Beckham was excused from practice for a second consecutive day Thursday as both sides tried to find a resolution, according to sources.

Beckham was told not to attend Wednesday's practice one day after his father posted a video on Instagram highlighting times when quarterback Baker Mayfield either didn't throw the ball to Beckham or missed him when he was open.

According to multiple sources, Cleveland coach Kevin Stefanski addressed the team before Wednesday's practice and informed players that Beckham would no longer be a Brown as the team prepares for Sunday's game against the Cincinnati Bengals.

Both Stefanski and Mayfield said Wednesday that they had not heard from Beckham since his father's Instagram posts went viral.

Beckham, who turns 29 on Friday, is under contract for two more seasons but has no guaranteed money left on his deal. The NFL's trade deadline was Tuesday, so Cleveland cannot trade Beckham until the start of the 2022 league year. The three-time Pro Bowler has a $1 million roster bonus due on the first day of training camp each of those seasons.

The Browns would save $15 million on their salary cap if they were to trade or release him during the offseason.

One of the NFL's most talented receivers, Beckham has also been one of its most irksome.

He came to Cleveland in a blockbuster 2019 trade from the New York Giants, who had grown tired of his self-absorbed antics. His arrival on the Browns brought unrealistic expectations in the first season and played a role in the team going 6-10 and undergoing another coaching change.

Although Beckham insisted he was happy in Cleveland, where he was reunited with former college teammate and close friend Jarvis Landry, he didn't seem to like not being in a big market. He reportedly told opponents on the field during pregame warmups to "come get me" in the offseason.

Beckham seemed to fall in line last season under Stefanski, but he never made a strong on-field connection with Mayfield, and their lack of chemistry was a constant topic.

When Beckham went down with his knee injury in October 2020, it appeared to free up Mayfield, who played better without the playmaker and led the Browns to their first playoff appearance in 18 seasons and their first postseason win since 1994.

Beckham worked hard to return from a torn anterior cruciate ligament this season, and there was a time when it looked as if his relationship with Mayfield and the Browns was finally working. However, he was rarely a major part of the game plan -- other than to be a decoy -- and Beckham was noticeably upset after Sunday's loss to Pittsburgh in which he caught just one pass for 6 yards in a 15-10 loss.

The video posted by Beckham Sr. -- along with a tweet from LeBron James, who said "OBJ will show again why he's special. WR1 #FreeOBJ" -- looked to be orchestrated by Beckham and was the clearest sign that a breakup was necessary.

Beckham had 17 catches for 232 yards and zero touchdowns in six games this season. He had only two 100-yard games in 29 games with Cleveland.

Information from ESPN's Jake Trotter and The Associated Press was used in this report