Bryant was a major disappointment after signing a four-year, $28 million contract this offseason with just under $8 million guaranteed.
Bryant's agent, Lamont Smith, said they will file a greivance because the team did not approach Bryant about an injury settlement. Smith said Bryant is seeking $1.55 million that he was scheduled to make in base salary.
"Our position is you can't cut a guy if he's hurt. We know what the rules are. We expect to be paid his salary for the year," Smith said. "He understands what his rights are. We've talked about it over the last three weeks and he understands it's a business."
Bryant and Terrell Owens worked out for the Bengals in March. Cincinnati chose Bryant, who was coming off an injury-marred season. He had surgery to repair cartilage damage in his left knee last year, and caught only 39 passes for Tampa Bay. He struggled in minicamp and training camp and didn't play a game in a Bengals uniform.
The writing was on the wall for Bryant once Cincinnati signed Owens to a one-year deal at the start of camp to replace Bryant in the starting lineup.
Owens quickly developed into the Bengals' top receiver in preseason. Bryant missed all four preseason games because of the knee problem. Bryant said the muscles around the knee weren't strong enough to let him cut at full speed.
James Walker covers the AFC North for ESPN.com. Information from ESPN NFL Insider Adam Schefter and The Associated Press contributed to this report.