Wright was traded from the Buccaneers for a conditional late-round 2014 draft pick on Friday to the 49ers, but that deal has quickly fallen apart. As a result, his rights have reverted back to the Tampa Bay Buccaneers, and they immediately released him. It was rumored that the Buccaneers would cut Wright in the absence of a trade partner, and those rumors were proven true today.
Also of note is that a failed physical could stem from a number of reasons. It’s a possibility that the 49ers simply changed their minds about the deal and wanted to have it rescinded, or it could be directly connected to Wright’s recent DUI in Los Angeles.
Wright is now a free agent. Free agency was not kind to most players this offseason, and defensive backs had a particularly difficult time landing deals. But he should still draw some interest on the open market and find a team at some point in the coming weeks.