The Colts released Michael on Monday, Field Yates of ESPN reports.
Michael somewhat surprisingly made the Colts' 53-man roster out of training camp, though he didn't have much of a role on offense once the season kicked off. He was active on Sunday versus the Eagles, but the veteran running back didn't see the field. The 27-year-old has 256 carries for 1,089 yards in his career and will look to join another team in need of backfield depth.