The Falcons released Bailey on Thursday, Adam Schefter of ESPN reports.

Bailey will be in the starting lineup against the Bears now that Takkarist McKinley (groin) has been deemed inactive, Vaughn McClure of ESPN.com reports.

Bailey is signing a one-year, $4.5 million extension that keeps him under contract through 2021, Tom Pelissero of NFL Network reports.

Bailey collected 26 tackles, four tackles for loss and one sack across 15 appearances (including five starts) for the Falcons this season.

Bailey (personal) returned to practice Wednesday and will play in Sunday's game against the Jaguars, D. Orlando Ledbetter of The Atlanta Journal-Constitution reports.

Bailey (personal) has been ruled out for Atlanta's Week 15 matchup against San Francisco, Vaughn McClure of ESPN.com reports.

Bailey is signing a two-year, $5.25 million contract with the Falcons, Adam Schefter of ESPN reports.

Bailey visited with the Seahawks on Tuesday, Adam Schefter of ESPN reports.

Bailey will visit with the Panthers on Monday, Adam Schefter of ESPN reports.

Bailey (knee) is active Sunday against the Bills, BJ Kissel of the Chiefs' official site reports.