Indianapolis Colts 2021 free agency outlook

The Indianapolis Colts are heading into the offseason in a good position. Despite a Wild Card loss to the Buffalo Bills, the team’s 11-5 record was no fluke. They still have a very good roster, albeit with one giant hole at the quarterback position. Philip Rivers retired—he was due to be a free agent anyway— and Jacoby Brissett is scheduled for free agency. Indianapolis’ search for a quarterback is going to get most of the attention this offseason, but they’ve got a handful of the roster’s most important players ticked for free agency as well that will go a long way toward shaping their offseason to-do list. The good news is that they’ve got around $64 million in cap space to work with this year.

Lost revenue due to COVID-19 will impact every team, but with so many free agents the likely drop in the league wide salary cap number could make things difficult. The 2020 number was around $198 million, while the 2021 number could drop to $180.5 million according to Over The Cap, but is subject to change.

Franchise/Transition Tag possibilities

Despite a slow start on the stat sheet, T.Y. Hilton made it clear over the second half of the season that he still had it, even at 31. It would be hard to justify a full-on No. 1 receiver contract, not to mention the cost of a one-year franchise tag for a premium position. On the other hand, whoever they bring in a quarterback is going to need someone like Hilton.

It might make more sense to tag cornerback Xavier Rhodes. They got him for a song last year, signing him to a one-year deal that paid him about $4 million. He thrived in the Colts’ zone coverage, allowing a meager 52 percent completion rate. The cornerback tag is another of the most expensive ones, but it might be worth it if they can’t settle on a longer deal. Pass rusher Juston Houston was another key contributor to one of the NFL’s best defenses with eight sacks and 12 quarterback hits.

Salary cap

Estimated 2021 cap space: $64,887,114

2021 transactions

Free agent signings

TBD

Free agent departures

TBD

Trades

TBD

Notable unrestricted free agents

* Denotes Restricted Free Agent (RFA)