Colts Free Agency: Sneak Peek at 19 Players

The Indianapolis Colts have 19 players due to hit free agency in the offseason; what should be the fate of each player?

With just one game remaining in the regular season for the Indianapolis Colts and no postseason ahead, it's evaluation time.

The team has some important decisions to make next offseason from the top to the bottom. The season hasn't gone anywhere near expectations and it means that everything is on the table and almost certainly that no one is safe in their position.

Today, we'll take a look at the Colts' 19 upcoming internal free agents and what the team might look to do about them. Note, the Colts are projected to have approximately $31 million in cap space heading into the offseason according to OverTheCap.com.

UNRESTRICTED FREE AGENTS

WR Parris Campbell

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For the first time in four years, Campbell has managed to stay healthy and play an entire season. His previous career high was seven games, but he's seen action in all 16 this season (started 15) and has been the dangerous weapon that the Colts thought he could be. Honestly, the team might be underutilizing him, still, but he does rank second on the team in receptions (57), targets (82), and receiving yards (581), and is tied for the lead in receiving touchdowns (3). Campbell needed to stay healthy and perform well in this contract year, so he's earned a shot at being re-signed by the Colts. The tricky part is, how much do you offer a player who only now has played a healthy season?

LB Bobby Okereke

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After yet another season where he improved from the year before, this would be a layup for the Colts to re-sign Okereke if it weren't for the money that the Colts already have tied up in the linebacker position. Shaquille Leonard already makes nearly $20 million per year and Okereke is likely to get at least half of that with his next deal. Linebacker just isn't a critical enough position to have that much salary cap space occupied. Now, Leonard's health and future is the biggest X-factor. He's currently on Injured Reserve after undergoing a second procedure on his back, so we don't know if there will be any developments on his situation in the offseason.

DE Yannick Ngakoue

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Any team would sign up to have one of their starting edge defenders get 8.0-plus sacks per season like Ngakoue has in each year of his career. However, that comes at a cost (currently making $13 million per year), and Ngakoue offers very little beyond rushing the passer. This season, he ranks 51st out of 53 qualifying edge defenders in Pro Football Focus' run defense grade (43.7). Are the sacks worth it? At this point of his career, Ngakoue is still going to command decent money and a starting position.

S Rodney McLeod

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Would McLeod want to come back to a team in as dire straits as the Colts? If they were in a position to win now, it would be more appropriate to bring McLeod back. He's been an excellent addition and has set numerous career-highs in this, his 11th season. However, the Colts have a handful of young, promising players at safety that could benefit from seeing snaps that McLeod is getting, Nick Cross in particular.

LB E.J. Speed

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Speed has gotten better in each season and has grown leaps and bounds on defense. He's an outstanding run defender, ranking 13th in the NFL among linebackers in run defense (79.3), and he's been one of the Colts' core special teamers for a few years now.

K Chase McLaughlin

Mandatory Credit: Marc Lebryk-USA TODAY Sports

If you have a kicker that isn't causing you grief, keep them. The Colts had issues with Adam Vinatieri in 2019 and Rodrigo Blankenship early this season before McLaughlin took over. He responded with the best season of his career, making 29-of-35 field goals (82.9%), including 8-of-11 from 50-plus yards (72.7%). He's also yet to miss an extra point (17-of-17).

DL Tyquan Lewis

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The Colts could opt to give Lewis another one-year, prove-it deal. He's suffered midseason, season-ending patellar (knee) injuries in back-to-back years, but he was having one of his better campaigns before the most recent injury. He's a solid, well-rounded defensive lineman that can play anywhere on the line. He'll come dirt cheap and will give you at least a handful of good games.

CB Brandon Facyson

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Facyson has caught plenty of flack for penalties and giving up some big plays but he hasn't been that bad. However, the Colts have Isaiah Rodgers Sr. and Dallis Flowers that need to see more and more snaps.

OL Matt Pryor

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Simply put, this one didn't work out.

WR Ashton Dulin

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There's almost no reason for the Colts not to bring Dulin back. He's a high-end special teamer, a quality depth receiver, and is likely to come pretty cheap. Every team needs guys like Dulin

OL Dennis Kelly

Mandatory Credit: Christopher Hanewinckel-USA TODAY Sports

If the Colts can keep Kelly put as the backup right tackle rather than playing him out of position at left tackle, he can probably give them reliable depth. However, he played at a replacement level this season.

P Matt Haack

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I'm not sure I've seen one punter have so many errant kicks in a season. Everyone misses you, Rigo.

Rigoberto Sanchez is going to be a welcomed returnee in 2023.

— Jake Arthur (@JakeArthurNFL) January 1, 2023

CB Tony Brown

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Brown is a quality special teams player and can provide depth at cornerback on the boundary or in the slot.

DL Byron Cowart

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According to PFF, Cowart has been the Colts' worst defensive player this season with a grade of 31.7, including 29.2 in run defense. They have rookie Eric Johnson II who needs more snaps.

DE Ben Banogu

Mandatory Credit: Robert Scheer-USA TODAY Sports

Another year, in a new system, and Banogu hasn't produced. He has the team's worst grade in tackling (29.2) and has only generated 2 pressures in 55 pass-rush snaps, per PFF.

S Armani Watts

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We never got to truly see Watts in action with the Colts because he got knocked out for the year with an ankle injury during the preseason. However, he's thought to provide good special teams play and quality depth at safety.

RESTRICTED/EXCLUSIVE RIGHTS FREE AGENTS

DE Khalid Kareem (RFA)

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Kareem only recently joined the Colts, seeing 39 snaps in 3 games, but it's been overall fine. He lost the edge on a couple of plays but did generate a pair of pressure a couple of weeks ago against the Los Angeles Chargers. 

DT Chris Williams (ERFA)

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Williams has seen action in only five games at a position for the Colts that lacks adequate depth. He entered training camp at the team's third defensive tackle but then a lower leg injury cost him quite a bit of practice time. Since then, he's spent time on the practice squad and then on and off the active gameday roster throughout the year.

RB Deon Jackson (ERFA)

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Jackson fell behind newcomer Zack Moss on the depth chart but he's still a quality running back who can run between the tackles and catch the ball. He's also a contributor on special teams. Especially as an exclusive-rights free agent, he should be back.

Before the offseason begins, get reacquainted with the different types of free agents, per NFL.com:

Unrestricted free agent (UFA):

Any player with four or more accrued seasons and an expired contract; free to negotiate and sign with any team.

Restricted free agent (RFA):

A player with three accrued seasons and an expired contract. RFAs are free to negotiate and sign with any team, but their original team can offer them one of various qualifying offers ("tenders") that come with the right of first refusal and/or draft-pick compensation. If the tender is withdrawn by a team, the RFA becomes an unrestricted free agent.

Exclusive rights free agent (ERFA):

Any player with fewer than three accrued seasons and an expired contract. If his original team offers him a one-year contract at the league minimum (based on his credited seasons), the player cannot negotiate with other teams.

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