The Texans will have a new outside receiver opposite of Andre Johnson.
The 31-year-old Walter caught 41 passes for 518 yards and two touchdowns in 2012. According to Rotoworld figures, Walter was scheduled to make $3.5 million in salary in 2013.
The Texans would figure to add to their wide receiver depth chart in the offseason. Johnson remains a legit go-to target, but he will be 32 in July. The Texans drafted DeVier Posey (recovering from a January Achilles injury) and Keshawn Martin in 2012, and third-year pro Lestar Jean is also in the mix.