He has been part of a club-record 143 wins and ranks second in franchise history in receptions (1,070), yards receiving (14,345) and touchdown catches (80).
Wayne was the Colt???s first-round draft pick in 2001 and has never played for another team.
But after tearing the ACL in his right knee in 2013 and injuring his left elbow the following year, Wayne did not match the performances of the early part of his career.
Indy???s general manager Ryan Grigson called Wayne the “catalyst” to the Colts’ turnaround, while team owner Jim Irsay said the decision was made in the “best interests of the team.”
Wayne will become a free agent on Tuesday.