The Saints will release Sanders on Wednesday, Adam Schefter of ESPN reports.
Sanders signed a two-year, $16 million contract last offseason, but for practical purposes, he was being paid $10 million for a single season. He'll now become an unrestricted free agent again, after putting up 61 receptions for 726 yards and five touchdowns on 82 targets across 14 games. The soon-to-be 34-year-old hasn't reached 1,000 yards since 2016, but he still appears capable of starting in the NFL. Sanders could be a popular fallback option for wideout-needy teams that miss out on Kenny Golladay and Will Fuller.