The Indianapolis Colts have plenty of decisions to make with the 2024 offseason officially arriving, and that includes what to do with the crop of players set to hit free agency.
Working with roughly $58.9 million in salary-cap space, according to Over The Cap, the Colts will have enough money to re-sign a number of pending free agents before they hit the market in the middle of March.
Here’s a look at eight pending free agents the Colts should look to re-sign this offseason:
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The top priority for the Colts during the early part of the offseason is re-signing Pittman to an extension. Though he said he’d be willing to play under the franchise tag if it meant getting an extension done, the Colts should be looking to lock up their No. 1 wideout to a long-term deal. Pittman has been nothing but productive despite a carousel at the quarterback position, and he’s proven he can thrive in a leadership role. This one is a no-brainer.
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It will be interesting to see what happens with Moore. The Colts should look to re-sign the versatile slot defender after he bounced back in a major way during the 2023 campaign. Moore returned to his Pro Bowl caliber form in the second year under Gus Bradley and even though there is promise with Julius Brents and Jaylon Jones, it’s Moore who has been the leader in the secondary over the last few seasons.
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In theory, players missing six games due to a suspension likely hurt their stock in a contract year. The opposite could not be truer for Stewart. While the suspension was disappointing, we got a glimpse of what the run defense looked like for six consecutive games without Stewart. The performance of the unit was so poor that Stewart may actually have gained leverage during his absence. Stewart is right in the prime of his career as a defensive tackle, and he’s adding more juice as a pass rusher as well.
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Few players have earned the type of respect that Lewis has. Despite suffering season-ending knee injuries halfway through the 2021 and 2022 seasons, Lewis came back in 2023 to post a career year. It’s unlikely he will sign for the $2.1 million he did last offseason but as long as the money isn’t outlandish, Lewis should be retained as a crucial depth piece.
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This should be another interesting case. Moss formed a solid 1-2 punch with starter Jonathan Taylor, and he deserves his flowers for the production he posted early in the 2023 season. Though that production tailed off with Gardner Minshew under center, Moss proved he can be a solid change-of-pace back. The Colts should look to re-sign him as long as it’s not for borderline starter money.
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Sanchez is a free agent for the first time in his career. Despite coming off an Achilles injury that claimed his entire 2022 season, Sanchez averaged a career-high 48.3 yards per punt attempt during the 2023 campaign. He also downed 21-of-68 punts inside the 20-yard line, marking the fifth time in six seasons he’s surpassed the 20 mark.
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The Colts should re-sign Minshew only if it’s for backup money. There’s a chance he will hit the market looking for borderline starter money after holding that role for the majority of the 2023 campaign. Minshew is a solid backup option and a fantastic locker room presence. He understands the nuances of Shane Steichen’s offense, and he’s a solid mentor for Anthony Richardson. But the NFL is a business, and it’s probably unwise for the Colts to overspend on an insurance policy even if it comes at the game’s most important position.
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This is one of the tougher decisions the Colts have to make this offseason. The talent with Blackmon is clearly there as he thrived as the strong safety in Gus Bradley’s defense. However, Blackmon continued to deal with injuries, which has been an underlying storyline throughout his career. If a deal can get done around the $6-8 million mark, then the Colts should jump on that while still adding to the room via free agency or the 2024 NFL draft.
