The Colts were more active this season, signing some big free agents, but also letting some of their own walk.
Additions + Retentions
Camryn Bynum
4 years, $60M with $30M guaranteed
You knew with all the coaching hirings geared towards the secondary that the Colts would likely look to sign some guys to help shore up the backend of the defense. Bynum is a well rounded leader with extremely high character scores. He played cornerback in college before switching to safety in the NFL, where he’s started the last 3 seasons for the Vikings. He’s had at least 2 interceptions in each of the last 3 seasons and has a low average missed tackle rate of around 10% in that same timespan. Bynum is a good player who will project to be a team captain within the first couple of seasons with the team. There is a potential out in the contract after two seasons.
Grade: A-
Charvarius Ward
3 years, $60M with $35M guaranteed
The secondary signings continued with the Ward signing, another necessary signing for the backend. Ward, an All Pro in 2023, has been a consistent staple of two secondaries in his career and has developed into one of the 10-15 best cornerbacks in the game. While there was a drop off in his play last season, the previous seasons would indicate that last season was likely an outlier, as the previous two seasons in San Francisco showcased how good he is, with a very low passer rating allowed and great tackling ability. Ward will instantly become a #1 cornerback and legitimize the Colts secondary.
Grade: A
Ashton Dulin
2 years, $8.5M with unknown guaranteed amount
Ashton Dulin has established himself as one of the best core special teamers in the NFL and has been invaluable for the Colts. He has also proven to be a good locker room guy and a fine rotational receiver if needed. This was a no-brainer signing that should keep the special teams unit above par. At 4.25M per year, it isn’t a cheap contract, but it’s only fair to reward someone like Dulin after what he’s given to the team.
Grade: A+
Departures
Dayo Odeyingbo
Signed 3 years, $48M with $32M guaranteed with the Chicago Bears
Dayo got the contract everyone thought he would get (I had him pegged around 18M per year with other analysts believing around the same). The reality was that the Colts were in a more dire situation at cornerback, safety and the offensive line so they need to spend more money on those areas so giving Dayo a major contract was just not in the books.
Grade: A
Ryan Kelly
Signed 2 years, $18M with unknown guaranteed amount with the Minnesota Vikings
Ryan Kelly had a remarkable career with the Indianapolis Colts with many accolades and he should be cherished and remembered only in a positive light. The unfortunate reality is that he’s well on the back nine of his career and the Colts aren’t necessarily in a position to pay a premium dollar to keep him and potentially let quality players (in their prime) like Will Fries walk out the door. Plus, Tanor Bortollini had a nice rookie campaign and is likely in a good position to start next season at center.
Grade: A-
If you’ve seen my past articles about grading, you know that I’m a difficult grader, so giving A’s across the board should tell you how highly and strongly I think of this first day. The real grades can only be given after the first year is over, but for now, I can say that the Colts hit this out of the park.
With regards to the salary cap, the Colts should likely have somewhere between $20M and $25M in cap space, after the 3 signings and the restructuring of the Braden Smith contract. The exact figure will not be known until the full contract details of all players are released. If that’s the case, the Colts will likely have at least 10M more to spend in 2025 cap dollars in free agency, as they still have to leave around 10M aside for in-season transactions and the 2025 draft class. The Colts can also free up space by releasing Samson Ebukam or restructuring the contracts of some of their highly paid guys.