Colts owner Jim Irsay said Wednesday that he expected to release the tackle within the next few days.
Simon did not pass his physical last weekend. He was expected to report to camp on time July 29 but was never seen at Rose Hulman Institute of Technology.
The Colts also waived rookie wide receiver Michael DePriest and placed tight end Mike Seidman on injured reserve with a knee injury. Seidman was signed this past spring after five seasons with Carolina.
Indianapolis also signed a pair of free agents, defensive end Noland Burchette and wide receiver Aaron Brown. Burchette is a 6-foot-2, 259-pound rookie defensive lineman who played at Virginia Tech. He was originally signed as an undrafted free agent by Atlanta.
Brown is a 6-3, 212-pound rookie who played at New Hampshire. He was originally signed as an undrafted free agent by Buffalo.