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Indianapolis Colts release safety LaRon Landry

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LaRon Landry, once a key piece of an aggressive Colts free agency spending spree, has been released.

The team announced the news Wednesday, along with the waiving of offensive tackle Xavier Nixon and linebacker Andrew Jackson.

Landry missed four games last season with a PED violation and his release will save the team roughly $2 million in salary cap space. He played in fewer than 500 snaps in 2014.

The Colts went all out during Landry's 2013 free-agent class, a group that included Erik Walden, Ricky Jean Francois and Gosder Cherilus among others. Indy continued spending the following year by adding Art Jones and Hakeem Nicks, but they might now be seeing the downside of a veteran splurge.

Landry, who will enter the season at age 30, should have plenty of suitors on the secondary market.

The Colts were likely hoping for more than what they got from the former No. 6 overall pick. Landry had a fantastic 2012 in New York which allowed him to hit the free-agent market as a prized commodity.

The 2013 experiment did yield a trip to the conference title game this year, but makes us wonder how popular high-profile spending sprees will be in the distant future. As the perceived value of veteran free agents continues to plummet, will the Colts' offseason in 2013 be another test case promoting the value of the draft and undrafted free agents under team control?

The latest Around The NFL Podcast breaks down the free-agent quarterback market and discusses Peyton Manning's future. Find more Around The NFL content on NFL NOW.

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