How awesome is it that news of a player being released is given by the owner? (Well,  it wouln't be cool for us, but for a functional team like the Colts it is): 

@JimIrsay: We have released Bob Sanders today. We thank Bob 4 all his incredible contributions from his Sup Bowl pic 2 def player of year honors.

Sanders was due to make $5.5 million this year, and since he's only played 9 games the last 3 years - that money is better spent on more important things (Peyton Manning). The former Pro-Bowl safety has been riddled with elbow and knee injuries.