The Indianapolis Star has reported that Polian, the club's vice chairman, and his son, Chris, are out. Chris Polian has been the Colts' general manager since November of 2009.
Head coach Jim Caldwell's status is still up in the air after the Colts finished a 2-14 campaign on Sunday with a loss to Jacksonville.
Without superstar quarterback Peyton Manning, Indianapolis lost its first 13 games of the season. Manning was sidelined all year after undergoing neck surgery in the offseason.
The Colts secured the No. 1 overall pick in April's draft, and even Manning's status with the team has been questioned. With Stanford quarterback Andrew Luck considered the prize of the draft, there has been speculation that the Colts might part with Manning and begin anew.
Manning was the first overall pick of the 1998 draft -- selected by Bill Polian upon his arrival in Indianapolis earlier that year -- and the future Hall of Famer has led the franchise to incredible heights. The Colts became consistent winners with Manning directing a high-powered offense and won the Super Bowl after the 2006 season.
The Colts, with Polian in the front office and Manning on the field, won eight division titles and made 11 playoff appearances. They had a string of nine straight years of double-digit wins, but it all fell apart this year when Manning was unable to play.