The Cowboys have told Colombo he will be released on Thursday so the team can continue to find a way to get under the $120 million salary cap.
Colombo is due a $2.6 million option bonus plus $1.9 million in base salary and a $500,000 roster bonus. If Colombo is released, the team saves $2.4 million against the cap.
Colombo has expressed an interest in staying with the team and after a meeting with Cowboys owner/general manager Jerry Jones it was revealed he could with a reworked contract.
Before Colombo's meeting with Jones, the team had told his agent, Jimmy Sexton, he was going to be released.
Now things are uncertain because of the meeting and it's up to the Cowboys and Sexton to get a deal to bring Colombo back.
With training camp starting Wednesday, it's not known if Colombo will be in attendance.
Calvin Watkins covers the Cowboys for ESPNDallas.com.