Beyer (undisclosed) agreed to an injury settlement Wednesday, per the league's official transaction log.
Reaching an injury settlement removes Beyer from injured reserve and allows him to sign elsewhere immediately.
The severity or specifics of Beyer's injury are currently unknown, but after clearing waivers, the linebacker has landed on Baltimore's injured reserve. He'll be free to sign with another team once he is released.
Beyer was released Friday by the Ravens, Aaron Wilson of the Houston Chronicle reports.
Beyer spent most of the 2016 season on the Ravens practice squad before being promoted for the team's final regular season game. Upon his release, he could be a candidate to end up on the team's practice squad once again.