From ESPN's Chris Mortensen, a man who has often served as the media mouthpiece for Bill Polian in recent years, just tweeted the news:
This report comes just two hours after Colts head coach Jim Caldwell held an odd press conference to let everyone know that nothing had changed.
Bill Polian was the Colts team president from 1998 to 2010. In 2011, he took the title 'vice chairman' while his son, Chris, took on the duties of general manager.
There is no word yet on who will replace the Polians in the front office, nor do we have any 'official' confirmation from the team. But, with this news coming from Mortensen, you can bet it got to him straight from Polian, which means it is legit.
The Colts have scheduled a 5:00 p.m. ET press conference. It looks like a new era is dawning for the Indianapolis Colts.
[UPDATE]: The Indy Star's Bob Kravitz confirms the report. Polians out. And in case you are wondering, no, there is unlikely to be a Bill Polian Show scheduled for this evening.
[UPDATE 2]: From Tom James, Terre Haute Tribune-Star:
General feeling is that Bill Polian lost the locker room. Players stood up and continue to stand up for Caldwell. Not so much for Polian.