The move, though not entirely surprising came after the conclusion of the team's third day of mandatory mini-camp.
Thompson has been out of practice during the latter part of OTA's and again in the last three day because of a reported knee injury.
Thompson was late reporting for the first day of the mini-camp because of storms that delayed his flight according to Thompson.
Head coach Ken Whisenhunt indicated to the media in his post practice comments on Tuesday that Thompson would be fined for being late to report.
Speaking with reporters on Thursday after practice, Thompson was asked if he thought he would be with the team when training camp begins on July 30.
"I hope so," replied Thompson.
According the Thompson, he was in Texas to get a second opinion on his knee injury, which cause the travel issues and delay in reporting.
When asked about the injury and what he was able to do at this point, Thompson shared indicated he was limited as to what he can do at this point.
"Some stuff," declared Thompson.
The injury was believed to have occurred late last season, though Thompson was vague as to how and when it occurred.
He did not have surgery or any type of procedure at that time to correct the possible issues according to Thompson.
"It's an injury, it's going to be up and down," said Thompson. "You really never know until the end of it."
"It's a matter of deciding what's best for my health and what's best for the team obviusly," said Thompson.
Thompson appeared to face long odds of making the roster, and while the move was not a surprise, the timing of the decision was somewhat unexpected.
A fifth-round pick by the Titans in 2012, Thompson played in three game last season and 35 games for his career. He totaled 11 receptions for 83 yards and one touchdown over his three seasons in Tennessee.