Colts' Free Agents to Keep, Let Walk in 2025

The Indianapolis Colts have plenty of tough choices regarding free agency when 2024 concludes.

Indianapolis Colts center Ryan Kelly (78) warms-up on the field Sunday, Sept. 8, 2024, ahead of the game against the Houston Texans at Lucas Oil Stadium in Indianapolis. / Grace Hollars/IndyStar / USA TODAY NETWORK

The Indianapolis Colts (6-7) are approaching an earned Week 14 bye before returning to face the 8-5 Denver Broncos. While the rest of the 2024 campaign and playoff aspirations are top priorities, so should the pending 2025 free agents within Indy's walls.

With that at the top of mind, it's time to look into three players Indianapolis should consider retaining and three others the Colts must make a difficult choice of letting go of. Let's begin by ripping the band-aid off.

Let Walk | Julian Blackmon

Indianapolis Colts safety Julian Blackmon (32) intercepts a pass intended for Tennessee Titans wide receiver Calvin Ridley (0) in the fourth quarter of their game at Nissan Stadium in Nashville, Tenn., Monday, Oct. 14, 2024. / Denny Simmons / The Tennessean / USA TODAY NETWORK via Imagn Images

The Colts have the 13th-most cap space with $10,578,371 available (Spotrac). While this is a solid amount, Indy will have to part with players who have dedicated years to the franchise and provided plenty of production. Safety Julian Blackmon fits the bill.

Blackmon was a free agent in 2024 and saw nearly no market interest, eventually settling for a one-year, $3.7 million deal with Indy. Blackmon has tallied 70 tackles, 0.5 sacks, and two interceptions. However, it isn't worth retaining the Utah alum.

The Colts will likely have plenty of higher-caliber free agents available, or draft prospects to replace Blackmon. General manager Chris Ballard loves saving a penny, so don't be surprised if Indy doesn't retain Blackmon despite five years of service to the Circle City.

Keep | Rigoberto Sanchez

Oct 20, 2024; Indianapolis, Indiana, USA; Indianapolis Colts punter Rigoberto Sanchez (8) and Indianapolis Colts place kicker Matt Gay (7) shake hands after kicking a field goal Sunday, Oct. 20, 2024, during a game against the Miami Dolphins at Lucas Oil Stadium. Mandatory Credit: Grace Hollars/IndyStar USA TODAY Network via Imagn Images / Grace Hollars/IndyStar USA TODAY Network via Imagn Images-Imagn Images

Punting isn't exciting, but essential. For Indy, Rigoberto Sanchez has provided pure consistency for the special teams since 2017. Fast-track to 2024 and Sanchez is playing better than ever.

Approaching the bye week, Sanchez has 54 punts for 2,702 yards (50.0 average) and 22 inside the 20-yard line. Sanchez has shown in 2024 alone that he's worth the dime, especially with his precision.

Rigoberto Sanchez just kicked one of the most immaculate punts you'll ever see.#INDvsTEN pic.twitter.com/oNcOwN98yi

— NFL (@NFL) October 13, 2024

Sanchez signed a one-year, $2.5 million contract for this year. Given how valuable he's been, Indianapolis needs to ink the underrated punter a new deal and secure his services for Brian Mason.

Let Walk | Ryan Kelly

Indianapolis Colts center Ryan Kelly (78) walks off the field Saturday, Jan. 6, 2024, during a game against the Houston Texans at Lucas Oil Stadium in Indianapolis. / Jenna Watson/IndyStar / USA TODAY NETWORK

Center Ryan Kelly has been nothing short of a stalwart for Indianapolis since the Colts drafted him 18th overall out of Alabama in 2016. However, injuries and underwhelming performances have made Kelly an unfortunate liability.

The team captain has seven games logged and Pro Football Focus blocking grades of 63.7 overall, 70.3 pass-blocking, and 61.1 run-blocking. He's also allowed seven pressures and one sack. While these aren't bad, Kelly is on the end of a four-year, $50 million deal.

Given how well rookie fourth-rounder Tanor Bortolini has fared at center in Kelly's absence, Indianapolis needs to make the unenviable choice of letting their longest-tenured member test free agency.

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Keep | Mo Alie-Cox

Oct 13, 2024; Nashville, Tennessee, USA; Indianapolis Colts tight end Mo Alie-Cox (81) celebrates a made catch against the Tennessee Titans during the first half at Nissan Stadium. Mandatory Credit: Steve Roberts-Imagn Images / Steve Roberts-Imagn Images

It might not be an exciting re-sign, but Mo Alie-Cox has made himself indispensable until Indy drafts another tight end. While they have Jelani Woods, he can't stay healthy to instill any confidence in the Colts' front office.

Alie-Cox has just 11 catches for 132 yards and one touchdown, but he's been the most effective tight end, with Drew Ogletree handling mostly blocking duties and Kylen Granson falling from grace.

The Colts likely need to look to the NFL draft for a new tight end, but Alie-Cox needs to be retained. If for no other reason, he'll provide a stable mentor role for the future, along with solid blocking when the Colts need it.

Let Walk | E.J. Speed

Indianapolis Colts linebacker E.J. Speed (45) celebrates after making an interception Sunday, Nov. 10, 2024, during a game against the Buffalo Bills at Lucas Oil Stadium in Indianapolis. / Grace Hollars/IndyStar / USA TODAY NETWORK via Imagn Images

Colts' veteran linebacker E.J. Speed has paid his dues to start in the NFL. Now in year six with Indy, Speed has compiled 117 tackles (seven for loss), four passes defended, and an interception. While Speed has great run-stopping prowess, he's an awful tackler.

Per Pro Football Focus, Speed isn't second to only Arizona Cardinals safety Budda Baker (23) in missed tackles with 20. With linebacker being the most sure-tackling spot on any defense, that's not worth another contract for the 29-year-old.

Speed is on a two-year, $8 million deal. That will likely increase with demand, so the Colts need to be wary. Given that Jaylon Carlies looks like a more complete linebacker, Indy should let Speed go to free agency.

Keep | Dayo Odeyingbo

New York Jets quarterback Aaron Rodgers (8) tries to throw a pass through the defense of Indianapolis Colts defensive end Dayo Odeyingbo (54), Sunday, November 17, 2024. / Kevin R. Wexler-NorthJersey.com / USA TODAY NETWORK via Imagn Images

Colts' defensive end Dayo Odeyingbo is approaching the end of his rookie deal. While he missed most of 2021, Odeyingbo has put together good enough campaigns in 2022 through 2024 to warrant a new deal.

Putting Odeyingbo in company with Kwity Paye, Laiatu Latu, and Tyquan Lewis can only assist the Colts' pass rush to get consistent pressure. In the NFL, games are won and lost off the performance of the trenches, and Odeyingbo offers versatility to Charlie Partridge, as he can also play on the interior.

For 2024, Odeyingbo has 27 tackles (seven for loss), 3.0 sacks, and two fumbles forced. If the price is right for Odeyingbo, Indy needs to retain his services. Even if he isn't a starter, he provides solid interchangeability and pressure when it matters.

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