http://www.nfl.com/news/story/09000d5d819c615a/article/patriots-place-holt-on-ir-ending-his-season-possibly-his-career?module=HP_headlines
With Welker still hurt and Holt on IR, the Pats better hope Moss and Edelman stay healthy. They really dont have much depth.
He was a longshot to see any playing time anyway. Price, Edelman, Tate and Aiken are all younger options. I think he Holt was brought in to help teach the young guys how to run routes and read defenses. That might explain why they put him on IR instead of cutting him.
http://www.bostonherald.com/blogs/sports/rap_sheet/index.php/2010/05/11/torry-holt-explains-his-trophy-finger-its-a-symbol-of-the-work-ive-put-in/