"Anytime you have to let a draft pick go, it's not something you look forward to doing," Bucs coach Dirk Koetter said. "It's unfortunate because Roberto's a good kid. He tried to do the right thing. But it's a production business. I'm sure he'll get another opportunity."
Aguayo missed an extra point in the second quarter of a 23-12 loss to the Cincinnati Bengals on Friday night. He was then brought out late in the fourth quarter for a 47-yard field goal attempt. The ball sailed wide right. He made one field goal, a 20-yard kick on the Bucs' opening possession.
Koetter and general manager Jason Licht met with Aguayo Saturday morning to inform him of the decision.
"It is what it is," Koetter said. "The thing that's really haunted Roberto from the time he's been here has just been inconsistency. The teams I've been on, you just don't have to have that at that position. There are enough other guys."
The job is being awarded to veteran Nick Folk, who was signed this offseason to push and possibly beat out Aguayo. He made his lone kick -- a 45-yarder.
"This allows us as a team to get behind Nick," Koetter said, adding that the team will be auditioning kickers Sunday so that they can have an extra leg in case of injury and to keep Folk's leg fresh.
The Bucs traded into the second round of the 2016 draft to select Aguayo, making him the highest-drafted kicker since Mike Nugent in 2005. Aguayo acknowledged his struggles after the game.
"Not what I wanted. Obviously not up to the standards that I want. You just have to keep your head up, move on to the next day," Aguayo said. "For any kicker, it's not what you want, but you have to (move on)," Aguayo said.
"You can't dread on it. Obviously this is what we do, and we only have a few opportunities, so you try to capitalize on them, process it and move on."