The Indianapolis Colts have a number of positions they could justify addressing this offseason, but only so many resources to go around.
The Colts currently have just over $28 million in salary cap space, which ranks as the 18th-most in the NFL–although they have the ability to make more room–and they have seven draft picks, one in each round.
Adding competition throughout the roster is going to be a theme of the offseason for the Colts based on what GM Chris Ballard said at his end of season press conference. But doing that doesn’t require adding the best available player at each position group either.
So who are some of the underrated options for the Colts to target in free agency at those key needs? Pro Football Focus provided some help and put a list together:
Cornerback: Paulson Adebo, Saints
Adebo appeared in only seven games last season after suffering a broken femur. But between the 2023 and 2024 seasons, Adebo has allowed a completion rate of just 58% at 13.8 yards per catch with excellent ball production that includes seven interceptions and 18 pass breakups.
PFF notes that with Adebo’s play-style, a defensive coordinator who prefers to play more aggressive man coverage will “surely value” what he brings to the table.
Safety: Elijah Molden, Chargers
Molden primarily filled the deep safety role with the Chargers in 2024, which would make him a good fit with Nick Cross, who was the Colts’ strong safety last season. However, Molden does have some experience playing closer to the line of scrimmage as well.
Molden was a very sound tackler this past season and held opponents to under 10.0 yards per reception with three interceptions, two pass breakups, and a passer rating when targeted of only 44.8.
“While Molden does not possess the versatility of some other safeties, he can be very valuable in a well-defined role as a deep safety,” wrote PFF.
Linebacker: Tyrel Dodson, Dolphins
The Colts need an added coverage presence at the linebacker position to pair with Zaire Franklin, and Dodson has been one of the higher graded coverage linebackers in each of the last two seasons by PFF’s metrics.
During that span, he’s held opponents to 9.0 yards per catch, has three interceptions–all of which came in 2024–and four pass breakups and a cumulative passer rating of 88.6.
“His contributions in coverage should have a lot of teams interested in signing him. Good coverage linebackers are a bigger need than ever before.”
Tight end: Mike Gesicki, Bengals
With the tight end class in free agency not being all that deep, Gesicki might not be a huge underrated option, but he can surely help the Colts’ passing game.
In his one season with the Bengals, Gesicki’s production bounced back as he totaled 665 receiving yards at 10.2 yards per catch with two touchdowns.
Nearly 70% of Gesicki’s snaps came lined up in the slot and fewer than 10% were in-line. He there to catch the ball.