This was the expectation all along after Ellerbe suffered a foot injury last month and was placed on injured reserve.
It wouldn’t be surprising to see a decent market develop for Ellerbe, as there are a few teams in need of linebacker help right now.
Ellerbe, 31, originally signed on with the Ravens as an undrafted free agent out of back in 2009. After four years in Baltimore, Ellerbe departed for a five-year contract with the Dolphins. However, Miami later traded him to the Saints in return for WR Kenny Stills just a few years into the contract.
The Saints got Ellerbe to a take a pay cut last year to return to the team.
According to OverTheCap.com, releasing Ellerbe will free up $2.5 million of available cap space while creating $700,000 in dead money.
In 2016, Ellerbe appeared in nine games for the Saints and recorded 44 tackles, four sacks, and two pass defenses.