Colts Deemed a 'Best Fit' for Two-Top Free Agents

The Indianapolis Colts have the resources and ascending team to make a splash in free agency.

The Indianapolis Colts took care of their in-house business during the first week of free agency. They came to terms on long-term deals for receiver Michael Pittman, defensive lineman Grover Stewart, cornerback Kenny Moore, and linebacker Zaire Franklin.

The added former Miami Dolphins defensive tackle Raekwon Davis last week as well.

All of those moves took a chunk out of the Colts' available salary cap space, but Indianapolis is still in good shape. They have $23.2 million in space according to Spotrac. That puts them 13th in the NFL for available money.

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With the first wave of free agency passed, there are still quality players to be had. Bleacher Report's (B/R) David Kenyon linked the Colts with two of the top-remaining free agents in a recent article: wide receiver Mike Williams and safety Justin Simmons.

Williams and Simmons were both salary cap casualties with the Chargers and Broncos respectively. Williams is 29 and coming off a knee injury, but is one of the top receivers available. He was off to a fast start in 2023 with 249 yards and a touchdown in two-plus games last season.

Kenyon thinks the Arizona Cardinals might be the top contender for Williams, but the Colts could have the edge being the better team.

"Otherwise, the New England Patriots have a thin receiving corps and a mountain of cap space," wrote Kenyon on B/R. "Meanwhile, if Williams is looking to join a playoff threat, the Indianapolis Colts would be a quality landing spot."

The Colts have good depth at wide receiver with Pittman, Josh Downs, and Alec Pierce, but Williams would be a solid addition to the rotation opposite Pittman if he is looking to join a playoff contender.

Indianapolis would need to move fast if they're interested. Williams has visits set up with the Jets, Panthers, and Steelers according to Adam Schefter.

Former Chargers’ WR Mike Williams is scheduled to visit this week with the Jets, Panthers and Steelers, per source. Jets up first with Williams arriving Monday night.

Also, with the Chargers having traded WR Keenan Allen, they also are interested in bringing back Williams.

— Adam Schefter (@AdamSchefter) March 17, 2024

Kenyon also likes the fit of Pro Bowl safety Justin Simmons with the Colts. Like Williams, Simmons was a cap casualty with the Denver Broncos. 

"Simmons may attract a high-dollar contract," wrote Kenyon. "But if that offer does not arrive, the Green Bay Packers would be a compelling option, even after the addition of Xavier McKinney. Cincinnati and Indianapolis are worth a nod as well."

Simmons was scheduled to make $18 million with the Broncos in 2024. He'll likely sign for less than half that in a crowded-safety market. The Colts could use someone with his cover skills on the back end of their defense. 

The first wave of free agency may be over, but clearly there are still players that can help Indianapolis take the next step to the playoffs this year. Will general manager Chris Ballard look to make another splash in the market, or will he hold on to the money and roll it over into 2025?

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