The following is from WWE.com:
World Wrestling Entertainment has come to terms on the release of Trevor Murdoch as of July 3, 2008. WWE wishes Trevor the best in all future endeavors.
Trevor Murdoch (Real Name- Trevor Rhodes) is a three time World Tag Team Champion with Lance Cade. He was drafted to SmackDown in the Supplemental Draft on WWE.com on June 25, but he never made his official SmackDown debut. Trevor has been with the WWE’s Main Roster since 2005.