ESPN reported Tuesday that the Bucs agreed to a $3 million injury settlement with Nicks, according to a league source.
Nicks signed a five-year, $47.5 million deal with Tampa Bay in 2012, but has seen his career derailed by a lingering toe injury. Nicks, 29, released a statement through the team last month in which he revealed his decision "to step away from the game." The Bucs announced at the time that the two sides had mutually decided to part ways.
It's unclear if Nicks intends to eventually resume his career, though the team's decision to move forward without the former All-Pro is an indicator Nicks has played his final snap in the NFL. Nicks still counts $5.357 million against Tampa Bay's cap in 2014, according to the NFLPA's database.