The Indianapolis Colts reportedly are signing linebacker Zaire Franklin to a three-year contract extension, per multiple reports Monday morning.
Even though Franklin isn’t scheduled to be a free agent this offseason, it was likely that the Colts would have to revisit his contract considering the production he’s given the team over the last two seasons.
According to ESPN’s Adam Schefter, Franklin’s deal is for three years worth $31.26 million.
Colts are signing linebacker Zaire Franklin to a 3-year $31.26 million contract extension. The deal was confirmed by his agents Drew Rosenhaus and Kyle Lincoln. pic.twitter.com/6I53NaKj6f
— Adam Schefter (@AdamSchefter) March 11, 2024
Franklin was slated to receive $2.88 million in 2024, which was the final year of his previous contract. His $2.3 million per year ranked 41st among NFL linebackers. Meanwhile, Franklin ranks second in the NFL in tackles (346) and solo tackles (209) over the last two seasons combined.
The value simply didn’t add up.
Though the structure will give us a better idea of how the contract breaks down, Franklin’s average annual value of $10.42 million per year ranks seventh among all linebackers. It puts him just ahead of Bobby Okereke’s $10 million average annual value with the New York Giants.
Franklin has been an extremely impactful player for the Colts ever since he took over the starting role in 2022. He has broken the single-season franchise record for tackles in a season in each of the last two campaigns.
Franklin is also beloved in the locker room and has been a team captain for four straight seasons (2020-2023).
