Colts' Internal Free Agent Profiles: E.J Speed
Indianapolis Colts linebacker E.J Speed is a former fifth-round pick out of Tarleton State in the 2019 NFL Draft. He was a versatile player at the college level, seeing snaps on both offense (wide receiver) and defense (linebacker/defensive end).
The Colts drafted Speed with the intention of developing him at linebacker, and his athletic traits made him an ideal special teams player from day one. He primarily held down a backup/core special teams role throughout his rookie contract, earning him a two-year extension with the team back in 2022.
Speed quickly outplayed that modest deal when he became a starter on defense in the second half of the 2023 season. Replacing former All-Pro Shaquille Leonard in the lineup, Speed became a tackling machine for the Colts' defense under Gus Bradley. Over the past two seasons, Speed has accumulated 246 tackles in 26 starts.
He hits free agency this offseason likely with a higher demand in contract than what he received back in 2022. His two-year, $8 million deal was perfect for a core special teamer, but would it be enough to keep him around for a third contract?
The Case for Re-Signing
Speed has been a core staple on the Colts' defense over the past two seasons. Serving as the team's WILL linebacker alongside Zaire Franklin, Speed has made a name for himself as a strong run defender with a tendency to come up with huge tackles for loss in big moments.
The peak of his career arguably came back in 2023. Leonard had hit a wall and clearly couldn't move quite as well on defense following multiple back surgeries. The Colts moved to Speed at the halfway point of the season, and it paid immediate dividends for the defense. He finished the 2023 season ranked as the number 15 linebacker in run defense grade and number seven in run stop percentage according to Pro Football Focus.
Speed's play did fall off a bit this season, but he did total his career high in tackles and come away with his first career interception in 2024. Even at his worst, Speed is an aggressive downhill linebacker who can be a force in the run game when kept clean. He's been fantastic in stretches as a starter, even if he's yet to put together a strong full season at the position.
The Case Against Re-Signing
The Colts' linebacker room has been a mess in coverage ever since Leonard's play fell off of a cliff back in 2023. Franklin has shown adequate flashes as a cover man at MIKE linebacker, but Speed has struggled to develop this part of his game since arriving in Indy. PFF has him charted with allowing an 85% catch rate and 649 yards in coverage this season.
For proper context, PFF had Speed as the fifth-worst coverage linebacker in the NFL this season. This could be excusable if it were simply a one-time deal, but Speed has consistently ranked quite low in coverage in every season with the Colts. PFF grades aren't everything, but they are at least good enough to give fans a good ballpark of how a player is performing.
The other fact of the matter regarding Speed is that his tackling simply hasn't been good enough as a starter for this team. Yes, he has racked up the total tackles the past two seasons, but his missed tackles are also climbing with each season. He has 45 missed tackles over the last two years, including being second in the NFL with 26 this season.
Bradley's system was built around keeping things in front and finishing underneath throws with tackles to limit yards after the catch. That system cannot work with players like Speed having high missed tackle numbers. Opposing offenses created far too many hidden yardage plays off of Speed's missed tackles the past two seasons.
The final point to make against re-signing Speed is that the Colts may have a better -- and cheaper -- option already in-house. Rookie fifth-round pick Jaylon Carlies drastically outperformed Speed in coverage and reliability this season in limited snaps. It may be risky to transition to the young player in a full-time role, but it does make it harder to re-sign Speed when a player on a cheaper contract was outperforming him in-house.
The Final Verdict
Speed has been a developmental win for Chris Ballard's tenure with the Colts. He began his career as a project at linebacker and has slowly grown into a capable defender with some upside on defense. At this point in Speed's career though, has that development reached its max?
Speed is a solid run defender with outstanding athleticism, and he would do well in a system that used him as a rotational player and only asked him to attack downhill. In any other role though, his limitations become quite apparent. Even with the Colts likely to move to a more blitz-heavy approach on defense, Speed just doesn't feel like the linebacker the team needs right now.
The Colts often like to run it back with players on the roster but given Speed's limitations, the contract he would likely demand, and the fact that the team has a better in-house candidate to replace him, the team should look to move on this offseason.
VERDICT: LET HIM WALK
OTHER IN-HOUSE FREE AGENTS
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