The Washington Football Team is expected to "part ways" with Smith (calf) in the coming days, Ian Rapoport of NFL Network reports.
Smith presumably will be released, as he isn't likely to have any trade value with two seasons remaining on a four-year, $94 million extension. Any trade would require the 36-year-old QB to take a pay cut, and even then he'd probably be looking at a backup job or a slim shot to win a starting role. Smith recently expressed confidence in his ability to continue playing in the NFL, but he might consider retirement if he's released by Washington and can't find another opportunity to his liking.