After long-running speculation about his Patriots tenure coming to an end, K.J. Osborn is indeed on the way out. The veteran receiver is being waived, per ESPN’s Adam Schefter. 
Schefter adds, to little surprise, this was a mutual decision by team and player. Osborn is among the Patriots receivers who have seen their playing time fluctuate during the campaign, and he has not suited up since November. Having been let go after the trade deadline, he will hit the waiver wire.
Osborn played out his rookie contract with the Vikings, establishing himself as a notable complementary receiver during his final three seasons with the team. His first foray into free agency saw him sign a one-year, $4MM Patriots pact, a deal which seemed to set him up as at least a rotational option in New England’s revamped WR room. Osborn saw more than three targets only twice in his seven appearances, however.
In the build-up to the trade deadline, signs pointed to the 27-year-old wanting a fresh start. That made Osborn one of many names to watch at the receiver position, and the Chargers showed interest. In the end, though, no trade was made and Osborn thus appeared set to close out the campaign with the Patriots. Instead, he will now be available to any teams willing to put in a claim for an addition over the stretch run. If that does not take place, Osborn will become a free agent.
New England’s pass-catching corps has been a sore spot in 2024, and Tyquan Thornton found himself in a similar position to Osborn leading up to the trade deadline. He was cut last month, a sign of the willingness on the part of Eliot Wolf to move on from receivers who have been unable to make an impact (although New England’s inability to pull off a trade for Thornton or Osborn is notable given the team’s readiness to finish the year without them).
For the final four games of the 2024 season, New England’s WR depth chart will consist of DeMario Douglas, Kayshon Boutte, Kendrick Bourne and rookies Ja’Lynn Polk and Javon Baker. Every member of that group is under contract for 2025, so they could all remain in place over the course of the offseason. Adding at the position will nonetheless be a priority during free agency and/or the draft, something which would have already been the case even if Osborn had stayed in place.