Rice tweeted an apparent goodbye about his pending release:
The number #12 will remain on the left side of my chest no matter what! Grateful for the opportunity to share so many special moments w yall - Sidney Rice (@sidneyrice) February 21, 2014
Rice signed a five-year, $41 million contract with the Seahawks in July 2011. He's due $17.5 million in base salary over the next two seasons, amounting to a $7 million salary cap number for 2014.
He missed the final eight games and the playoffs after suffering a torn ACL at St. Louis on Oct. 28.
Rice was slowed by injuries throughout his time with Seattle. His 2011 season was marred by concussion and shoulder problems that limited him to nine games.
He played in all 16 games in 2012 and had 50 catches for 748 yards and seven touchdowns. It was his most productive season since 2009, when he went to the Pro Bowl after finishing the season with 1,312 receiving yards and eight scores.
Information from ESPN.com Seahawks reporter Terry Blount was used in this report.