Reed appears on the NFL’s official transactions report.
Reed was set to make $4.5 million in the final year of the five-year deal he signed with the Falcons in 2015. The Falcons will get that cap space back with $940,000 in dead money left as a result of the $4.7 million signing bonus he received.
Reed started 34 games over his four seasons in Atlanta and appeared in every game over the past two seasons. He had 24 tackles, a sack and a forced fumble in 2018.