The Indianapolis Colts today elevated running back Zurlon Tipton to the active roster from the practice squad, and in order to make room for Tipton on the 53-man roster, they waived defensive end Earl Okine. The team also waived cornerback Sheldon Price from their injured reserve with an injury settlement.
Adding Tipton makes a lot of sense and shouldn't come as a surprise. Tyler Varga has missed practice this week with a concussion, while Josh Robinson is nursing a back injury (he was limited on Wednesday but was a full participant on Thursday). In addition to Frank Gore, those were the only running backs on the roster, so adding Tipton gives them depth in case Varga can't play Sunday (which, considering he hasn't practiced yet this week, I would consider likely). Tipton played in nine games with the Colts last season (including playoffs) and received 28 carries for 86 yards and a touchdown (3.1 yards per carry), also catching nine passes for 90 yards and a touchdown. He stuck with the team through training camp and preseason this year but was waived during final roster cuts, only to be signed to the practice squad shortly thereafter.
Unlike Tipton, Okine actually made the 53-man roster to start the regular season, surviving roster cuts as a depth defensive lineman after an impressive preseason. The Colts claimed T.Y. McGill off of waivers from the Seahawks and then traded for Billy Winn from the Browns, however, adding more depth and making Okine's role less necessary.
As for Price, he now is free to sign with any team once he gets healthy, whenever that may be (he suffered an ankle injury and was waived/injured so that the Colts could add a healthy player at cornerback). Before he can return to the Colts, however, he must wait six weeks after he is healthy - just like with Boom Herron and Vick Ballard, who were also waived from IR with an injury settlement by the Colts recently.