Watson signed a three-year contract worth $6.25 million in free agency to be a starting outside linebacker. The deal included $1.5 million guaranteed.
But Watson never really fit in. He had groin surgery in the offseason, missed much of the preseason and made one start. He had eight tackles in nine games.
Colvin, a standout at Oklahoma, was a fourth-round draft pick. He tore a knee ligament during a Senior Bowl practice and has been recovering since. Jaguars coach Gus Bradley says Colvin will play next week at Indianapolis.
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