According to Hill’s agent, Brett Tessler, the plan for the Jaguars is to sign Hill to their practice squad if he goes unclaimed on waivers.
Walters, 28, originally signed on with the Chargers as an undrafted free agent out of Cornell back in 2010. He lasted two years in San Diego before bouncing around with a few teams including the Vikings and Seahawks.
The Jaguars later signed him to a contract as an unrestricted free agent in March of last year. However, he was waived a few weeks into the season. Jacksonville elected to bring him back a few days later.
Walters was in the final year of his contract and set to make a base salary of $760,000 for the 2016 season when the Jaguars released him a few days ago.
In 2015, Walters appeared in 11 games and caught 32 passes for 368 yards receiving and a touchdown.