There were talks beforehand of him possibly wanting out of his contract as he had talked to Angle, who said they had a spot for him in TNA, but that the WWE decided to give him a pay raise instead to keep him. Now, it seems like they've realized that they never use the guy to his potential (or at all, really) so they might as well release him.
Haas is a guy that I've kind of liked. I always wanted to see him find his way into a backstage training position or a tag team of some sort, and when NXT came out with the mentor concept, I figured he'd be a sure-fire veteran to pair up with someone. Needless to say, that never came to fruition. I can see him going to TNA, but not getting too much of a push. Think Sean Morley with less charisma but more in-ring talent.