Phillips was recently cut by Tennessee after registering only two sacks this season. Phillips signed a two-year, $5 million deal with the Titans, but it seems the team prefers to get younger at the position.
The Colts could use some help for their pass rush. While they are towards the top of the league with 28 sacks, they lack any premier edge rushers. While Phillips no longer fits that mold, they likely hope that the veteran could be rejuvenated in a new setting.
Pro Football Focus rated Phillips No.45 out of 48 qualifying 3-4 outside linebackers.
Phillips has 81.5 sacks in his eleven seasons.