Indianapolis Colts owner Jim Irsay posted on Twitter this morning that the Colts are releasing oft-injured safety Bob Sanders:

We have released Bob Sanders today. We thank Bob 4 all his incredible contributions from his Sup Bowl pic 2 def player of year honors.

As pointed out by Andrew Brandt shortly after - Sanders' salary will no doubt be going to the "Manning fund" - a reference to the fact that the Colts have put the franchise tag on quarterback Peyton Manning and are planning on making him the highest paid player ever in the NFL.