UPDATE: Thursday, March 28 at 9:38 a.m. ET by Patrick Clarke
According to The Plain Dealer's Mary Kay Cabot (via Twitter), the Browns have no plans to release Colt McCoy this offseason but are willing to deal him elsewhere:
#Browns CEO Joe Banner told new flagship partner ESPNCleveland Colt McCoy won't be released as of now, but they're open to trading him.— Mary Kay Cabot (@MaryKayCabot) March 28, 2013
---End of update---
According to The Plain Dealer's Mary Kay Cabot via a league source, the team is expected to release or trade McCoy this offseason.
But according to NFL Network reporter Ian Rapoport on Wednesday (via Twitter), the Browns are not looking to release McCoy but, instead, are potentially waiting for the right trade to come their way:
Browns source: The team has no plans to cut Colt McCoy. Holding out for a trade? Perhaps. But not cutting him soon.— Ian Rapoport (@RapSheet) March 27, 2013
As Cabot points out, the addition of veteran quarterback Jason Campbell this offseason has made McCoy an expendable piece in the lead-up to April's 2013 NFL draft, as the Browns likely won't be giving up on 2012 first-round draft pick Brandon Weeden after just one season.
But it remains to be seen if or how the Browns will go about parting ways with McCoy.
What will the Browns do with Colt McCoy this offseason?
The 26-year-old signal-caller was drafted 85th overall by the Browns in the third round of the 2010 NFL draft. The former Texas Longhorns star has played in 24 games over the past three seasons in Cleveland, throwing for over 4,300 yards and 21 touchdowns over that time.
Prior to being drafted three years ago, McCoy was a prolific passer at Texas, throwing for over 13,000 yards and 112 touchdowns from 2006 to 2009. In 2008, McCoy won 2008 AP Big 12 Offensive Player of the Year and led the Longhorns to the BCS National Championship Game one season later as a senior.
With a lackluster group of quarterbacks on the free-agent market this season and a very shallow class of quarterbacks coming out of the college ranks this spring, McCoy could provide solid trade value for the Browns this offseason.
If there's one thing holding him back, though, it's his record as a starter. McCoy hasn't started a regular-season game since 2011, and he posted a dismal 6-15 mark in 21 starts in Cleveland from 2010 to 2011.
First-year head coach Rob Chudzinski is no doubt looking to groom his own players, and with Weeden having only had one season to prove himself, McCoy looks like the obvious odd man out.
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