Bailey (undisclosed) was waived by the Ravens with an injury settlement Friday.
The exact location and severity of the injury remain unclear, but the Ravens are set to cut ties with the converted wide receiver rather than keeping him rostered on injured reserve. He'll be free to sign with any team once he's at full strength and able to pass a physical, although that may not be until the start of the 2018 season.
Bailey (undisclosed) has reverted to the Ravens' injured reserve list.
Bailey will likely remain on IR for the entire 2017 season unless he and the Ravens agree to an injury settlement. As such, the former college quarterback will need to wait another year before trying his hand as an NFL wide receiver.
Bailey (undisclosed) was placed on the physically unable to perform list Friday, Garrett Downing of the Ravens' official site reports.
It isn't clear what sort of injury Bailey is dealing with, but it will definitely set him back in his attempt to transition from collegiate quarterback to professional wide receiver. If he stays on this list through the end of training camp, Bailey will miss the first six weeks of the regular season.