The terms won't be official until the new league year opens on March 13.
Vernon graded well last season in his 12 games, but this was a move the team needed to make.
Vernon was selected in the third round of the 2012 NFL Draft by the Dolphins.
Olivier Vernon's time with the Giants has come to an end. There is depth at that position in this year's class, and Cleveland could land one with the No. 17 overall pick. The 28-year-old had cap hits of $19.5 million in 2019 and 2020 from the five-year, $85 million contract he signed in 2016.
Philadelphia is trading Michael Bennett to New England, NFL sources said Friday.
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Let's take a look at what Vernon does well, and some of the issues he has faced in his seven-year career. Bennett had previously stated his desire to remain a starter, and with former first-round pick Derek Barnett and Graham returning, he was unlikely to get that opportunity with Philadelphia this season.
The Giants are coming off a 5-11 season, while the resurgent Browns finished with a 7-8-1 record.
The team could also theoretically use the sixth overall pick on a pass rusher if they decide none of the available quarterbacks are players they want to build around. Here's five impacts it will have on the Browns for the upcoming season.
With the addition of Vernon, the Browns lose $10.3 million in cap space.