As we continue to approach 4 p.m., reports of cuts are beginning to come in quickly. The first Colts one we've heard of is via a report from Pro Football Talk's Mike Florio, and it's one that many Colts fans will be pleased by: inside linebacker Kelvin Sheppard is reportedly out in Indy.
Sheppard played in 15 games for the Colts last year, starting 7, and notched 46 tackles, a sack, and a pass deflection. He was acquired by Ryan Grigson last offseason in exchange for Jerry Hughes - who, despite his success in Buffalo, wasn't going to work out in Indy. That said, it's safe to say that the Bills got the better end of that deal. Sheppard was not very good last year and he didn't look much improved this preseason.
What makes this move a bit of a surprise is that Sheppard spent a lot of time this preseason working with the second team and, at times, with the first team. He was always playing as the second linebacker behind D'Qwell Jackson, but the reality of the situation is that he just wasn't too good and not many fans are going to miss Sheppard.
This likely means good things for linebackers such as Josh McNary (who the Colts LOVE, and for good reason), Henoc Muamba, and Andrew Jackson. Additionally, the team might choose to keep both Andy Studebaker and Cam Johnson as outside linebackers now, given that they were playing Stude inside some due to the lack of depth.
Again, PFT's report says that the Colts have cut Kelvin Sheppard. This won't surprise anyone in terms of play, but in terms of depth chart, it's a bit of a surprise - though not necessarily a bad move.
We'll keep you updates throughout the day as we learn of more cuts and as they become official.
[UPDATE:] We have confirmed that the Colts have released Kelvin Sheppard.