Laveranues Coles has spent much of his 10-year NFL career with the New York Jets, but the former Pro-Bowler appears to be on his way out.

Coles joined the Jets this offseason, presumably as an insurance policy for the suspended Santonio Holmes, but the Jets released him on Sunday so as to avoid paying his full $850,000 veteran-minimum salary, reports the New York Post.

Still, Coles may return to the Jets on a week-to-week basis, which would save New York money.

Coles has caught 459 passes in seven years with the team, but the Jets have compiled a crowded receiving core featuring Holmes, Braylon Edwards, Brad Smith, Jerricho Cotchery and David Clowney.

Coles caught 43 passes for the Bengals last season.