According to John Michael Vincent of Indianapolis radio 1070 The Fan, the Colts will retain running back Chad Spann on the 53-man roster. They are also seeking a trade to augment their roster. No word yet on who they will trade for.
Been told #colts have Rb C Spann on 53 man but they will make a trade to add to the roster and Spann to PS.
The confirmed cuts for the Colts, per this update, are:
DE John Chick
QB Dan Orlovsky
WR Taj Smith
The waiving of Orlovsky likely means embattled backup Curtis Painter will remain on the Colts active roster. Regarding the reported interest in a trade, if Harris, Ogbu, and Mathews are cut, this leaves the Colts critically thin at the defensive tackle position.
At 6:00 p.m. Eastern, all NFL teams are required to trim their rosters from an 80-man roster limit to 53.
[UPDATE 2]: From Kerry Neal:
@K_Neal56 Kerry Neal
I got cut today by the colts. But my head is still high. Just got to grind harder and hope for the best. #blessed
Also, JMV reporting that Darren Evans will remain on 53-man roster.