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Two years ago, the Buffalo Bills traded up to draft receiver T.J. Graham.

Today, they waived him.

Graham was the most notable roster move the Bills made to reduce their roster to 53 players by the 4 p.m. deadline.

Buffalo's other cuts were quarterback Jeff Tuel, receiver Caleb Holley, offensive linemen Doug Legursky and Antoine McClain, defensive ends Ike Igbinosun and Bryan Johnson, linebacker Jimmy Gaines and defensive backs Kenny Ladler and Deon Broomfield.

The club also announced it signed quarterback Kyle Orton and punter Colton Schmidt.

The Bills, enamored with his Olympic-caliber speed, drafted Graham 69th overall in 2012. He was the 15th receiver off the board in a draft class that featured a few busts. The New York Jets released second-round pick Stephen Hill today.

But Graham will be known as a luxury item for a team that needed so much more core work. Six slots after the Bills took him, the Seattle Seahawks drafted quarterback Russell Wilson. Later in the third round, the Philadelphia Eagles selected quarterback Nick Foles.

Three slots after the Bills took Graham, the Miami Dolphins selected defensive end Olivier Vernon, who recorded 11.5 sacks last season.

Graham started 11 games his rookie season under previous coach Chan Gailey and caught 31 passes for 322 yards and a touchdown.

Graham's involvement waned last year with new coach Doug Marrone. The Bills drafted another speedster, Marquise Goodwin, and Graham started only six games. He had 23 receptions for 361 yards and two touchdowns.

This preseason, he had five catches for 66 yards. He averaged 23.4 yards on five kickoff returns and 7.0 yards on a team-high 11 punt returns.