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.
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?