Colts Re-Signing Julian Blackmon is Great Move for Both Sides

The Indianapolis Colts agreed on a new contract with one of their biggest defensive playmakers in safety Julian Blackmon.

Dec 17, 2022; Minneapolis, Minnesota, USA; Indianapolis Colts safety Julian Blackmon (32) reacts to / Matt Krohn-USA TODAY Sports

The Indianapolis Colts have tied up their final loose end among their in-house free agents, agreeing to a new contract with top safety Julian Blackmon to help shore up a young secondary that was aided mightily by his leadership last season.

The deal is for one year and reported to be worth up to $7.7 million, including $3.2M in guarantees according to NFL Network's Ian Rapoport.

This has been a bounce-back offseason for a robust free-agent safety market that has struggled to earn high-level pay in recent years. Perhaps the underwhelming upcoming NFL Draft class of safeties has something to do with it, but many veteran safeties have received handsome paydays over the last month with a high number of players also agreeing to new deals with a few weeks remaining before the draft.

For the Colts, getting Blackmon back means that it adds stability, versatility, playmaking ability, and the aforementioned leadership to a secondary that features the majority of its key contributors still on their rookie contracts.

For Blackmon, the value that this new deal could reach would make him among the highest-paid free-agent safeties in this cycle based on average annual value (AAV). Being a one-year deal, it also allows him to try and play a full season in 2024 (which he has yet to do in the NFL) and parlay that into a much bigger multi-year deal next offseason when he will be entering his age 27 season.

Since the deal is worth up to $7.7M, for the sake of argument, let's say Blackmon hits those escalators, then he comes out as the third highest-paid free-agent safety this offseason in AAV at best, and 15th at worst if all he gets is the $3.2M that he's guaranteed.

Below are the 15 highest-paid free-agent safeties this offseason based on AAV, per Spotrac.com.

1. Xavier McKinney (Green Bay Packers): $16.75M AAV
2. Chauncey Gardner-Johnson (Philadelphia Eagles): $9.0M AAV
3. Julian Blackmon (Indianapolis Colts): $7.7M AAV
4. Kevin Byard (Chicago Bears): $7.50M AAV
5. Darnell Savage (Jacksonville Jaguars): $7.25M AAV
6. Geno Stone (Cincinnati Bengals): $7.0M AAV
7. Brandon Jones (Denver Broncos): $6.66M AAV
8. Rayshawn Jenkins (Seattle Seahawks): $6.0M AAV
9. Alohi Gilman (Los Angeles Chargers): $5.06M AAV
10. Kamren Curl (Los Angeles Rams): $4.5M AAV
11. Jordan Whitehead (Tampa Bay Buccaneers): $4.5M AAV
12. Jeremy Chinn (Washington Commanders): $4.10M AAV
13. Miles Killebrew (Pittsburgh Steelers): $3.25M AAV
14. Jordan Fuller (Carolina Panthers): $3.25M AAV
15. Deshon Elliott (Pittsburgh Steelers): $3.0M AAV

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The value of this contract was clearly well considered by both parties, as the Colts have had a need at safety all offseason and there was interest in Blackmon around the league following visits with the Buffalo Bills and San Francisco 49ers.

Blackmon is coming off of a career year, reaching personal single-season bests in tackles (88), tackles for loss (5), fumbles recovered (2), interceptions (4), and pass breakups (8). Although he has dealt with injuries throughout his career, he tied for the most games played in a season in 2023 (15) before suffering a season-ending shoulder injury in Week 16.

Even at just 25 (will be 26 in August), Blackmon is a four-year vet and is far and away the best, most trustworthy option the Colts have at safety. He's also capable of playing each of free and strong safety as well as the slot at a high level.

Outside of Blackmon, Rodney Thomas II (25 career starts) and Nick Cross (4 career starts) are the only other Colts safeties who have been trusted as starters, but Thomas was ultimately replaced in the lineup late last season and Cross is still a big question mark. The team also has Daniel Scott, Trevor Denbow, Marcel Dabo, Kendell Brooks, and Michael Tutsie on the roster, but none are yet to be considered reasonable starting options. Ronnie Harrison Jr. is also an option at strong safety, but the Colts prefer him at weakside linebacker.

Even after re-adding Blackmon, the Colts could still stand to add one more player capable of starting to the safety group. With Blackmon being on a one-year deal with no guarantee that he'll be back beyond then and nothing but question marks alongside him, there is still a moderate need for insurance.

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