Toon (ankle) was signed to the Rams' practice squad Tuesday, ESPN.com's Nick Wagoner reports.

Toon was a fourth-round draft pick in 2012, but it isn't a good sign for his future that he was released by a receiver-needy Saints team before the season. He's probably still recovering from an ankle injury and is unlikely to make an impact this season.

Toon and the Saints have reached an injury settlement, Evan Woodbery of the New Orleans Times-Picayune reports.

Toon will be waived off injured reserve, allowing him to sign with another team. He's recovering from a high-ankle sprain but expects to be ready to play within the next few weeks. As a former fourth-round draft pick (2012), he could draw some interest around the league, despite failing to earn a role on a team with very shaky wideout depth.

Toon cleared waivers Wednesday and was placed on injured reserve, Evan Woodbery of the New Orleans Times-Picayune reports.

Toon was surprisingly released in advance of Tuesday's cut-down date, but his high ankle sprain was severe enough to shut him down for the season. While the team oversees his recovery, the Saints will turn to Brandon Coleman and Willie Snead as periphery passing options for Drew Brees.

Toon (ankle) has been released by the Saints, Kristian Garic of WWL 870 AM reports.

Toon was the offseason favorite to win the No. 3 wide receiver job, but he's since been passed in the pecking order by Brandon Coleman, Willie Snead, Seantavius Jones and Josh Morgan. The new favorite for the job is Coleman, a 6-6 second-year former UDFA out of Rutgers. Toon may be waived/injured, in which case the Saints would have the option of placing him on injured reserve, if he isn't claimed by another team. The wording of the report suggests that the Saints just plan to move on.

Toon (ankle) is not a lock to make the final roster, according to the New Orleans Times-Picayune's Larry Holder.

Toon was once favored to earn the No. 3 wide receiver role, but Brandon Coleman seems to have taken a lead, with Seantavius Jones, Josh Morgan and Willie Snead also emerging as candidates for roster spots. Furthermore, Toon is dealing with a high-ankle sprain, which leaves his Week 1 status in serious question.

Toon is in line to miss 2-3 weeks with a high-ankle sprain, the New Orleans Times-Picayune reports.

With Toon banged up, Brandon Coleman's chances of slotting in as the Saints' No. 3 wideout early in the season behind Marques Colston and Brandin Cooks could be looking up.

Toon (undisclosed) caught one pass on one target for two yards in Saturday's preseason game against the Patriots but he was spotted leaving the game early with an unspecified ailment, reports Mike Triplett of ESPN.com.

It doesn't appear that the injury is anything took serious, but Toon has not done much in training camp or preseason to justify his deep sleeper status so far. In fact, most training camp reports have indicated that sophomore Brandon Coleman may have passed Toon in the depth chart battle to be the Saints' No. 3 wide receiver - though Coleman underwhelmed on Saturday as well. There are still two preseason games to go, but even after performing well at the end of last season, Toon will need start making some noise to prove to owners that he can be a fantasy factor.

Toon caught one pass, on two targets, for nine yards in Thursday's preseason opener against the Ravens.

With Marques Colston (undisclosed) taking a seat for this one, Toon saw most of his action with the first-team offense, led by Luke McCown, who was starting in place of the resting Drew Brees. Toon's only two targets came early in the second quarter on a drive that eventually resulted in a Brandin Cooks touchdown. The fact that Toon saw snaps before Brandon Coleman, his presumed primary competition for the No. 3 wide receiver slot, is a positive sign for Toon's value. Yet, with no Brees and the Baltimore offense dominating the time of possession in the first half, no wide receiver - other than Cooks, of course - did much to separate himself from the pack. The positional battle will likely continue throughout the preseason, with a date with the Patriots on tap next week.

Toon is listed as a second-string wideout on the Saints' initial depth chart, ESPN.com reports.

Marques Colston and Brandin Cooks are locked in to the top two spots, so Toon will have to fend off Brandon Coleman for the all-important No. 3 wide receiver role. While neither Toon nor Coleman would figure to see much work in the slot, said role could come with quite a few targets in an offense that no longer has Jimmy Graham to lean on.

Toon, who spent his first three years at the X receiver spot, has moved to the Z receiver position in the Saints' base offense, reports The New Orleans Advocate.

In the final six weeks of the 2014 season, Toon caught 17 passes for 215 yards and a touchdown, prompting optimism that he could develop into a regular this season. "Certainly we've seen [Toon's] progression," said head coach Sean Payton. "He understands the system and he's working hard. I think the key is just getting snaps, but I think we'll see his snaps go way up." Toon's ability to line up in multiple receiver positions, along with being an above-average run blocker, could give him an additional leg up in the competition for the Saints' No. 3 receiver gig.

Toon is the front-runner for the no. 3 receiver job, according to Mike Triplett of ESPN.com.

Young receivers Brandon Coleman and Seantavius Jones have impressed during OTAs, but neither has seen a snap in a regular season affair. As such, Toon - who had a strong finish to the 2014 season - remains the most likely option to fill the void as the Saints' third wideout. If he can hang onto the gig, Toon could be a nice sleeper option in deeper leagues, as there's going to be additional targets to go around without Jimmy Graham or Kenny Stills on roster.

Despite trading away both Jimmy Graham and Kenny Stills this offseason, the Saints did not take a wide receiver in the 2015 NFL Draft. Toon appears to be penciled in as the Saints' third receiver, behind starters Marques Colston and Brandin Cooks, reports ESPN.com.

When asked about not taking a receiver with any of the team's nine draft picks, head coach Sean Payton singled out Toon. "We think Nick Toon's developing. A lot of the snaps last year toward the end of the year we started seeing him make some plays. He's a tremendous worker who's got size," Payton said of the 6-4, 218-pounder, who didn't catch a pass until Week 12 but finished with 17 catches for 215 yards and a touchdown over the final six games. Toon likely has the early leg up in the competition for depth-chart position but will continue to battle for snaps with a pair of undrafted rookie free agents from last season, Brandon Coleman and Seantavius Jones, and troubled speedster Joe Morgan.

With Kenny Stills being traded to the Dolphins, Toon now sits third on the Saints' wide receiver depth chart. Toon finished the 2015 season with 17 receptions for 215 yards and a touchdown - all of which came over the final six games of the season.

While he's currently third on the depth chart, the Saints often deploy three-receiver sets, with Brandin Cooks most likely to operate as the slot receiver. Slated to play opposite a possession-minded receiver in Marques Colston, Toon isn't the prototypical deep threat the Saints have consistently played in that role in years past. Yet, both Toon and Colston managed to co-exist just fine the second half of the season, with Toon flashing enough skills to plant him on the fantasy radar in 2015 in deeper leagues, if he's able to hold onto his spot on the depth chart.

Toon caught one pass on two targets for 24 yards in the season-ending win against Tampa Bay.

In his third year in the league, Toon finally flashed some of the potential that led to the Saints drafting him in the third round of the NFL Draft in 2012. He finished the year with 17 receptions for 215 yards and a touchdown - all of which came over the final six games of the season. The Saints' depth chart at wide receiver will likely be a crowded one in 2015, particularly if Marques Colston returns, but Toon should have the opportunity to compete for substantial playing time given his strong finish to 2014.

Toon caught three passes on six targets for 44 yards in Sunday's loss to the Falcons, which eliminated the Saints from playoff contention.

Toon has made some noise down the stretch, logging at least 42 receiving yards in four of his last five contests - a time frame which not-so-coincidentally aligned with Brandin Cooks' season-ending injury. It feels like the third-round pick out of the University of Wisconsin has been around forever, but it's really only his second full season, after he missed all of his rookie campaign with a foot injury. With Marques Colston aging, Toon is an interesting option in dynasty leagues, as he finally appears to be coming into his own and possesses the size to be a potential red zone threat.

Toon caught 4-of-4 targets for 43 yards in Monday's 31-15 win over the Bears, but he also lost a fumble for the first time in his career.

According to Nathan Jahnke of Pro Football Focus, Toon logged 37 snaps, compared to 43 for Kenny Stills, and 52 for Marques Colston. While clearly established as the Saints' No. 3 wide receiver, Toon is only the fourth or fifth option in the passing game, as Jimmy Graham and Pierre Thomas both have prominent roles. Toon could be a more intriguing commodity next season, given that he's hauled in 11-of-13 targets for 147 yards and a touchdown over the past four games. Colston is a candidate to be released in the offseason, and the veteran might see his role further diminished, even if he sticks with the team.

Toon played on 29 of the Saints' 56 offensive snaps in Sunday's win against the Steelers, reports the New Orleans Times-Picayune.

Toon's snap count is somewhat of a surprising development, as he saw more playing time than both Kenny Stills (25 snaps) and Joe Morgan (18 snaps). Coming from the University of Wisconsin - a college program prominently known for running the ball - it's possible that Toon's extra playing time was the result of his superior abilities as a blocker, particularly as the Saints attempted to salt away the clock via the ground game while holding a double-digit lead in the fourth quarter. Still, after notching his first career touchdown, Toon may be worth a speculative add in deeper leagues in case he continues to see playing time over Stills, as the Saints' remaining schedule is extremely fantasy-friendly.

Toon caught two passes on two targets for 17 yards, including an 11-yard touchdown reception, in Sunday's win over the Steelers.

The touchdown, a highlight-reel worthy catch-and-run, was the first of Toon's career. With Brandin Cooks sidelined for the rest of the season, Toon has now made a box-score impact in two straight games. He's still behind both Kenny Stills and Marques Colston on the Saints' wide receiver depth chart, but if he can continue to earn snaps as the team's third receiver going forward, he could potentially be worth a deep-league flier for his red zone prowess.

Toon caught three passes on five targets for 42 yards in Monday night's loss to the Ravens.

Seeing his most playing time all season with Brandin Cooks (hand) and Robert Meachem (ankle) sidelined, Toon did most of his damage on the Saints' final offensive possession, which culminated in a touchdown pass to Jimmy Graham with 40 seconds left in the game - after Toon was tripped up at the three-yard line. There's a chance Toon earned himself additional playing time over the final weeks of the season, but he's still too low on the depth chart to be counted on by fantasy owners.

Toon is a healthy inactive Sunday against the Vikings, Matt Vensel of the Minneapolis Star Tribune reports.

With Joseph Morgan active Sunday after spending Week 2 in street clothes, Toon's standing as the team's No. 6 receiver has been affirmed. Look for him to remain inactive most weeks unless injuries hit the Saints' receiving corps.