The Indianapolis Colts are over a full month away from the start of free agency and with a handful of starters set to hit the market, there will be some big decisions to be made.
While the Colts won’t re-sign all of their free agents, there are a few worthy of signing new deals before or after they hit the market. It’s likely the Colts will have to create some extra salary-cap space by making some moves.
We also predicted the fate of each pending free agent for the Colts this offseason.
In ranking the top 100 free agents for the 2023 offseason, Pro Football Focus also protected what a contract might look like for each player.
There were four Colts players included in the list, which included linebacker Bobby Okereke, defensive end Yannick Ngakoue, wide receiver Parris Campbell and safety Rodney McLeod.
Here’s what those projected contracts looked like:
LB Bobby Okereke
PFF Free Agency Rank: No. 49
Projected Contract: Three years, $25.5 million ($8.5M per year); $15.75 million total guaranteed
The Colts have a tough decision to make when it comes to Okereke. They already have so much invested in Shaquille Leonard that it would be incredibly difficult to justify two linebackers getting paid in the top 10 at the position. However, it would be feasible if the annual salary looked like the projected contract above. That would make Okereke the 16th highest-paid linebacker. But it’s likely that he can command more than that on the open market, which would likely keep the Colts out of the running.
DE Yannick Ngakoue
PFF Free Agency Rank: No. 59
Projected Contract: Two years, $25 million ($12.5M per year); $20 million total guaranteed
Ngakoue was an interesting case for the Colts this offseason because he led the team with 9.5 sacks and was second with 16 quarterback hits, but it felt as though he disappeared for chunks at a time. Still, he has plenty of value as a pass rusher if his role is simply to get after the quarterback. At $12.5 million per year, Ngakoue is still a value. It may be hard for the Colts to swing that considering the other major needs they have so there’s a good chance Ngakoue hits the market if his offers look something like that.
WR Parris Campbell
PFF Free Agency Rank: No. 82
Projected Contract: Three years, $23.25 million ($7.75M per year); $13.25 million total guaranteed
The former second-round pick finally showed what he can do if he stays healthy for an entire campaign. His 63 receptions and 623 yards are both career-high marks and even though those numbers don’t jump off the page, those are quality numbers for a WR3/slot type. With Michael Pittman Jr. and Alec Pierce working on the outside, the Colts would do well signing Campbell for this kind of money.
S Rodney McLeod
PFF Free Agency Rank: No. 92
Projected Contract: One year, $2.15 million; $2 million total guaranteed
McLeod was a fantastic addition to the Colts secondary during the 2022 season and was one of the team’s unsung heroes. Though he’s contemplating retirement, it would make sense for the Colts to try to run it back with the four safeties they had in McLeod, Rodney Thomas II, Julian Blackmon and Nick Cross.
