According to ESPN.com, the Colts release Rainey for violating a team rule.
Rainey was signed by the Colts as a free agent on November 20, 2013. In two games with Indianapolis last season, he had six kickoff returns for 131 yards and four punt returns for 29 yards.
For his career, Rainey has returned 45 kickoffs for 1,166 yards and seven punts for 29 yards. He also has 26 carries for 102 yards, all in 2012 when he played with the Pittsburgh Steelers.
A January 2013 arrest led to his release from the Steelers. He was arrested in Gainesville, Fla., and charged with one count of simple battery after an altercation with a woman over a cellphone.