NFL Media Insider Ian Rapoport reports that the linebacker will hit the open market and is unlikely to be back in Atlanta, per a source involved in the situation.
Weatherspoon, who missed all of last season with a torn Achilles, had been a priority for the Falcons to bring back.
But things change quickly in the NFL. It's unclear which side pulled back to allow the 27-year-old to hit the market.
In desperate need of boosting their pass rush, the Falcons will have to look outside their building once free agency opens on Tuesday.