According to Jeremy Fowler, the Colts are waiving former third-round TE Jelani Woods.

Injuries have prevented Woods from really getting his career off the ground, so now he’ll look for a fresh start elsewhere. He hasn’t appeared in a regular-season game since 2022.
Woods, 26, is a former third-round pick by the Colts in the 2022 NFL Draft out of Virginia. He’s entering the final year of a four-year, $5,372,474 rookie contract that includes a $1,087,253 signing bonus.
He was set to earn a base salary of $1.437 million in the final year of his deal.
In 2022, Woods appeared in 15 games and recorded 25 receptions for 312 yards (12.5 YPC) and three touchdowns.
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