Free to negotiate with new tenants (7)

I believe the answer is:

release

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'free' is the definition.
(to release someone is to free them)

I don't understand how the remainder of the clue works.

(Other definitions for release that I've seen before include "Issue" , "Possibly film" , "Let go" , "loose" , "record" .)

I've seen this clue in The Irish News.

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