The Texans gave Walter multiple chances to prove he could be their No. 2 receiver, but he was never able to have the type of impact their offense could clearly use.
Walter, 31, had a $3.5 million base salary coming his way next season. This move will save Houston $2.5 million in cap space.
We’ll have to see what they choose to do with it. They’re reportedly interested in re-signing free agent S Glover Quin, so that could be where they start.