Torry Holt (knee) placed on IR

FOXBOROUGH, Mass. -- Veteran wide receiver Torry Holt was placed on injured reserve by the New England Patriots on Sunday, the team announced. Holt has a knee injury and will undergo surgery this week, according to his agent, Kennard McGuire.

"It's a great disappointment for Torry," McGuire said. "He saw this as a terrific chance to play with another great quarterback and being coached by one of the all-time greats."

It is possible the surgery will mean the end of Holt's stellar career.

The 34-year-old Holt was entering his 12th NFL season and first in New England after playing for the St. Louis Rams (1999-2008) and Jacksonville Jaguars (2009). He entered the 2010 season ranked 10th in NFL history with 13,382 receiving yards and 11th in receptions with 920.

Holt signed a one-year contract with the Patriots on April 20, the team viewing him as a sound insurance policy for the recovering Wes Welker and the projected development of second-year player Brandon Tate. Since that time, Welker has returned to practice quicker than anticipated and Tate has shown promise.

Thus, Holt wasn't necessarily a slam dunk to land a roster spot. The Patriots have Randy Moss, Welker, Tate, Julian Edelman and 2010 third-round draft choice Taylor Price as virtual locks, so the depth chart was crowded even before Holt hurt his knee.

In other roster moves, the Patriots waived safety Ross Ventone, re-signed receiver Buddy Farnham, and signed free-agent offensive lineman Brian Simmons.

Mike Reiss covers the Patriots for ESPN Boston. You can follow him on Twitter or leave a question for his weekly mailbag.