- Field Yates, ESPN Insider
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The veteran was signed last month and appeared in four games for the Patriots, catching three passes for 34 yards.
He left Sunday's game against the Pittsburgh Steelers after suffering a knee injury, the severity of which was unclear.
The team signed wide receiver LaQuan Williams on Tuesday, meaning it had to open up a spot on the 53-man roster.
Collie, a fourth-round pick of the Indianapolis Colts in 2009, has had several injury issues in recent seasons.
The New England Patriots have released wide receiver Austin Collie.