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Peyton Manning & Lamar Odom Get CUT From Their Teams!

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'Tis the season for cutting... Yikes!

He's been injured for a while but the Indianapolis Colts allegedly are ready to take action and cut cut 35-year-old QB, Payton Manning tomorrow during a news conference in Indianapolis.

Not really a surprise considering his neck injuries and was due A LOT of money from the NFL....

Manning underwent multiple surgeries to fuse vertebrae in his neck over the past 19 months....he missed the entire 2011 season, but good luck filing his shoes!

The Colts have the #1 pick in the draft so they have their choice.

On the other side of sports, in basketball....Lamar Odom, who was traded from LA to Dallas .... has now been cut from the NBA's Dallas Mavericks and demoted to the NBA Developmental League.

According to some, this is....
“easily the biggest demotion for a celebrated player of his kind in NBA history.”

Just last week he left the Mavs to take care of his sick father in LA. On top of that the 32-year-old has appeared out of shape and disinterested at most Mavs games.

Can't really imagine the NBA being too fond of his Reality Show with his wife, Khloe Kardashian either.

While Lamar gets his game straight, he will be playing for the Texas Legendas and will still receive his annual salary of $8.9 million.

In case you missed it...

Lamar Odom Traded Off LA Lakers?! Almost In Tears During Interview! (VIDEO)

Lamar Odom Traded To Dallas -- Starts Filming For New Reality Show w/ Khloe Kardashian

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