According to ProFootballFocus.com, Reed ranked 73rd out of 85 players at the position.
A 2002 first-round pick out of Miami, Reed missed the first two games of the 2013 season recovering from a hip injury. In the seven games since, he had 16 tackles, no interceptions and didn't defend a single pass. Two weeks ago, he lost his starting job to Shiloh Keo.
So, there's the possibility he's just done. But if not, you pick up exactly what the Browns D needs badly - a safety that can actually cover and make plays.
Not sure what it hurts to let him clear waivers and see if he's willing to sign a one year contract - worst that happens you just cut him.