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Backup quarterback Brian Hoyer was released by the Indianapolis Colts following the team's announcement they have officially signed Philip Rivers on Saturday.
Ian Rapoport of NFL Network reported Tuesday that the Colts had agreed to a one-year contract worth $25 million. The Colts confirmed the move, and Rivers provided a video addressing his new home:
Last season was Hoyer's only campaign in Indianapolis. The 34-year-old appeared in four games and made one start.
This article will be updated to provide more information on this story as it becomes available.