The Colts have released Phillips, the Indianapolis Star reports.Added by the Colts this past November in the hope that he would bolster the team's pass rush, Phillips -- who was slated to earn $2.55 million in 2015 -- recorded just five tackles and no sacks during his five-game stint with Indy. Prior to that, he notched 19 tackles and two sacks in 11 games with the Titans.

The Colts have claimed Phillips off waivers from the Titans, the team's official site reports. In a corresponding move, the team waived fellow outside linebacker Victor Butler, with the addition of Phillips adding experience and pass-rushing depth to the Indy defense.

The Titans released Phillips on Tuesday, 247Sports reports. Phillips did not impact the Titans' pass rush like the team hoped, so they decided to cut ties with him and give the team's younger players a better chance to see at playing time.

Titans agreed to terms with OLB Shaun Phillips, formerly of the Broncos, on a two-year contract. According to FOX Sports' Mike Garafolo, the deal is worth a "max" of $6 million. Phillips turns 33 in May, but it's a potential bargain for the Titans, who will slide Phillips in at outside linebacker in DC Ray Horton's hybrid 3-4 defense. Phillips was far-from elite on a per-snap basis last season, but still managed 10 sacks after notching 9.5 in 2012.

Free agent OLB Shaun Phillips is visiting the Titans on Thursday.

NFL Network's Ian Rapoport reports the Broncos "fully expect" to re-sign free agent DE/OLB Shaun Phillips. Phillips turns 33 in May, so he's not going to break the bank. Despite 19.5 sacks and four forced fumbles over the past two seasons, Phillips has been an inefficient pass rusher in terms of hurries and hits. The Broncos signed him to a one-year, $1 million deal last offseason with $2 million more in incentives.

According to Pro Football Focus, Broncos DE/OLB Shaun Phillips only disrupted the quarterback on 47-of-443 pass rush snaps during the regular season. That's a sack, hit, or hurry on just 10.6 percent of his pass rush attempts. Despite posting ten sacks, Phillips' disruption rate ranks him No. 62 among all players who rushed the quarterback at least 250 times. He'll have his hands full on Sunday against the elusive Russell Wilson.

Broncos DE/OLB Shaun Phillips (back) was added to the team's Week 3 injury report and is listed as questionable. The Broncos take on the Raiders on Monday night. Phillips has been filling in for suspended Von Miller, and he has 2.5 sacks and one forced fumble after two games. Malik Jackson would likely see more snaps if Phillips sits out.

Shaun Phillips is Von Miller's direct backup at strong-side linebacker. Miller is currently appealing a four-game ban for amphetamines and marijuana. Assuming the appeal is denied, the Broncos are going to have to get creative with Phillips. On the decline at age 32, he has no shot of coming close to replicating Miller's dominance. Still, the extra opportunities will make Phillips an interesting IDP flier in September.

Shaun Phillips says he accepted less money to play for the Broncos. "That's why I came here, to be in this situation, to be with a team that is right there in the mix," Phillips said. "I want a chance at the whole thing." Ticketed for a backup role at both outside linebacker and defensive end, Phillips is playing for a bargain-basement $1 million, with no guaranteed money. If he truly turned down more money, we doubt it was a lot. Phillips can earn another $2 million through sack-based incentives, though only $400,000 of it is considered achievable.