Jones was scheduled for a $7.35 million cap hit in 2017. The move saves Indy $5.15 million in space, per OverTheCap.com.
The 30-year-old defensive lineman signed a five-year contract worth $33 million in 2014 after four seasons in Baltimore.
Like many free agents who leave the Ravens, Jones fell on his face the past three seasons. The 320-pound lineman played in just 17 games over the three years due to injury and a four-game PED suspension. He missed all of 2015 with an ankle injury. Jones compiled just 53 tackles and 1.5 sacks over the course of his time in Indy.
The cleanup job is not done.