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The Buccaneers released Olatoye on Tuesday, Scott Smith of the Buccaneers' official site reports.
Olatoye suited up Week 8 against the Panthers with the Buccaneers down multiple key defensive backs, but with the secondary returning to decent health in advance of Sunday's loss to the Saints, the 26-year-old didn't dress for the contest. He'll now be dropped from the roster entirely as the Buccaneers clear a spot for quarterback Ryan Griffin (shoulder), who was activated from injured reserve Tuesday.
