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.

The Nashville Tennessean reports free agent OLB Shaun Phillips is "on the Titans' radar."

This is in addition to free agent ILB Jameel McClain and ILB Karlos Dansby. The Titans could also soon jump into the bidding for free agent OLB LaMarr Woodley, who has years' worth of ties to new Tennessee DC Ray Horton. The Titans are transitioning from a 4-3 to 3-4 defense in 2014, and need players who fit the new scheme. Phillips came up as a 3-4 outside linebacker in San Diego.

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.

Coach John Fox expects newly signed Shaun Phillips to be a backup at both SAM linebacker and defensive end.

The Ravens decided to take a flier on Phillips rather than Dwight Freeney or John Abraham. He's certainly cheaper, as they only gave him a $1 million base salary with no signing bonus on his one-year deal. Phillips will rush the passer from all over the formation, mostly out of the Broncos' nickel package. He had 9.5 sacks while operating as a starting outside linebacker for the Chargers last season.

Broncos signed pass rusher Shaun Phillips, formerly of the Chargers, to a one-year contract.

Phillips, 32 next month, was one of the better free agents left on the open market. San Diego wanted him back, but there appears to be a better opportunity with the division rival Broncos. Phillips has 69.5 career sacks, and he'll replace some of the production lost by Elvis Dumervil's departure. This might rule out a potential Dwight Freeney signing for the Broncos.

PFT reports free agent OLB Shaun Phillips is "quietly generating interest."

Per a source with knowledge of the situation, Phillips remains "on the radar screen" of teams on the prowl for pass-rushing help. Some of the more high-profile clubs currently searching for pass-rushing heat are Denver, Atlanta and Baltimore. ESPN's Adam Schefter previously mentioned Phillips could be a possibility for Denver. Phillips had 9.5 sacks in 16 starts last season.

ESPN's Adam Schefter mentions free agent OLB Shaun Phillips as a possibility for the Broncos if they cut Elvis Dumervil.

Phillips is coming off a 9.5-sack season. The Broncos could sign both him and Dwight Freeney if Dumervil were cut, although Dumervil's sudden openness to a pay reduction suggests he'll stay in Denver. We should know more tomorrow.

The Union-Tribune San Diego says impending free agent OLB Shaun Phillips "will be wearing different colors" in 2013.

Phillips, 32 in May, has spent his entire nine-year career with the Chargers, but San Diego has minimal cap space at the moment, and Phillips is one of eight starters that are free agents. Phillips has 69.5 career sacks. The Browns and Cardinals have been mentioned as potential suitors. The Bolts have Jarret Johnson, Melvin Ingram, and Larry English at the outside 'backer spots.

The Cleveland Plain Dealer suggests that the Browns could target OLB Shaun Phillips in free agency.

Phillips registered 9.5 sacks and two forced fumbles as a 16-game starter in 2012, and has played the last six seasons under new Browns OC Norv Turner in San Diego. With Cleveland transitioning to a 3-4 defense, he could be a nice addition for Ray Horton's aggressive, blitz-heavy scheme. The Browns are a projected $45.6 million under the cap for 2013.

Mike Jurecki of XTRA Phoenix is "hearing" free agent OLB Shaun Phillips "may" have interest in signing with the Cardinals.

Phillips, who turns 32 in May, registered 9.5 sacks and two forced fumbles in 2012 as a 16-game starter in San Diego. The career Charger could add some pass-rushing juice to Arizona's outside linebacker corps, rotating in with Sam Acho and O'Brien Schofield. The Cards have been short on depth at the position.

Chargers OLB Shaun Phillips left Sunday's game against the Chiefs with an undisclosed injury.

Phillips was tended to by San Diego trainers late in the fourth quarter but walked off under his own power. With the Chargers up comfortably, they may keep him out for the rest of the contest.

Chargers OLB Shaun Phillips played in only 66.2 percent of the team's defensive snaps in Week 1 against the Raiders.

Phillips played in 84.9 percent of the defensive snaps in his 12 games in 2011. The San Diego coaching staff is taking a different approach with their pass rush in 2012, limiting some players' snaps in order to keep guys fresh. Phillips responded well last Monday night by abusing Oakland's Khalif Barnes for two sacks. The Chargers upgraded their outside linebacker position in the offseason by adding first-round pick Melvin Ingram and free agent Jarret Johnson to the rotation with Phillips, Antwan Barnes, and Larry English.