Kansas City released McGuire (ankle) from injured reserve with an injury settlement Thursday, independent NFL journalist Aaron Wilson reports.
McGuire was injured during the Chiefs' first preseason contest against the 49ers. The 26-year-old has spent time on Kansas City's practice squad the last two seasons and was vying for a depth spot on the final roster this year. The 2017 sixth-round pick will be free to sign with another team once the terms of his settlement are fulfilled.