INDIANAPOLIS -- NFL free agency kicked off March 14, and we're keeping track of every major signing, trade and release of the 2022 offseason, with analysis from our NFL Nation reporters and grades from our experts. The first round of the 2022 NFL draft begins April 28 on ESPN.
Indianapolis Colts general manager Chris Ballard headed into his most important free-agency period since he started reshaping the roster in his first season with the team in 2017. They are coming off a 9-8 season when they missed the playoffs for the third time in five seasons under Ballard.
Most of Indianapolis’ needs are on offense.
The Colts need a left tackle to protect their quarterback; a starting tight end, following the retirement of veteran Jack Doyle; potentially a starting right guard; and receiver Michael Pittman Jr. needs plenty of help at that position, too.
Here's a breakdown of every 2022 NFL free-agent signing by the Colts, and how each will impact the upcoming season:
Stephon Gilmore, CB
Gilmore agreed to a two-year, $23 million contract, with $14 million guaranteed.
What it means: New Colts defensive coordinator Gus Bradley has a clear cut No. 1 cornerback to work with on their roster after the departures of Rock Ya-Sin (trade) and Xavier Rhodes (free agent). Gilmore, the 2019 NFL Defensive Player of the Year, has 27 interceptions and 116 passes defended in 10 seasons, and he's also coming off of a Pro Bowl season. Gilmore joins a defense in Indianapolis that also features, Yannick Ngakoue and DeForest Buckner on the line, linebacker Darius Leonard and one of the league’s best slot corners in Kenny Moore. Each of those players have made at least one Pro Bowl appearance in their careers.
What's the risk: Can the 31-year-old Gilmore still produce at a Pro Bowl level? Opposing quarterbacks completed 68% of their pass attempts with Gilmore as the primary defender last season. He's also dealt with injuries the past couple of seasons. Gilmore was traded to Carolina from the New England Patriots, where he opened the season on the physically unable to perform list because he was still recovering from a surgery on his quad, in October before making his season debut on Halloween. He has not played a complete season since 2019.
Mo Alie-Cox, TE
The Colts agreed to re-sign Alie-Cox to a three-year, $18 million deal, a source told ESPN. Alie-Cox, a former standout basketball player at VCU, has spent the first five years of his career with the Colts.
What it means: Tight end was definitely a position of need, especially after Doyle's recent retirement announcement. Alie-Cox is familiar with the Colts offense. He spent the majority of his rookie season in 2017 on the practice squad before becoming a regular on the active roster in 2018. Alie-Cox has 70 receptions for 936 yards and eight touchdowns in his career. Don't expect Alie-Cox to be the last tight end the Colts sign. They still need to add some depth -- and experience -- at the position.
What's the risk: The biggest risk is if the Colts need to count on Alie-Cox to be their No. 1 tight end. He's shown plenty of flashes, but he's lacked the type of consistency to be the team's main tight end.
Zaire Franklin, LB
The Colts have agreed to re-sign Franklin to a three-year, $12 million deal, a source told ESPN.
What it means: Re-signing Franklin means the Colts will return their three starting linebackers from last season. Franklin had 40 tackles and an interception in 2021. Franklin's value, though, is more on special teams, where he's that unit's captain. He blocked a punt that was returned by E.J. Speed for a touchdown against the Jacksonville Jaguars last season.
What's the risk: Franklin is a safe player to re-sign. With that said, it would not be surprising if the Colts bring in some competition to compete against Franklin for his starting position because he's easily the third of three starting linebackers, behind Darius Leonard and Bobby Okereke.
Matt Pryor, OL
The Colts agreed to re-sign Pryor to a one-year, $5.5 million deal, according to a source.
What it means: Re-signing Pryor was a priority for the Colts after the departure of guard Mark Glowinski (Giants) and with left tackle Eric Fisher not expected to re-sign with the team. Pryor's versatility could put him in position to start at right guard or left tackle in 2022. He started five games between tackle and guard last season after spending the first two years of his career with the Philadelphia Eagles.
What's the risk: None, because he'll be a viable backup on the offensive line if the doesn't start at guard or tackle.
Tyquan Lewis, DE
The Colts are reportedly re-signing Lewis to a one-year, $3 million contract
What it means: This could be looked at as a prove-it deal for Lewis since the Colts gave him only a one-year contract. He was on his way to potentially having a career high in sacks before he suffered a season-ending torn patella tendon in Week 12 against the Tennessee Titans. The contract will turn out to be a bargain deal if Lewis regains his pre-injury form and becomes an impact pass-rusher off the edge for the Colts, especially considering the team's need in getting to the quarterback.
What's the risk: This is a low-risk, high-reward contract for the Colts. They're losing only $3 million if Lewis struggles coming back from his injury. The Colts are in great shape if Lewis is able to look anything close to himself prior to the injury because he would give them another pass-rusher to turn to along the defensive line.
Armani Watts, S
The Colts inked Watts to a one-year, $1.187 million deal
What it means: Watts' addition is more for special teams than to be in the position to push for one of the starting safety jobs. He has started only one game in his four-year NFL career. Watts will play a huge role for the Colts on special teams, which is one of the top units in the NFL, after they decided not to re-sign George Odum, who is now with the San Francisco 49ers.
What's the risk: This is a bargain deal for the Colts because Watts will be a key special teams player and can step in to play key snaps on defense, especially since Julian Blackmon is coming off a torn Achilles and Khari Willis has yet to play a full season due to injuries.
Brandon King, CB
King signed a one-year contract with Indianapolis. Financial terms were not immediately available.
What it means: King is another strong special teams player for the Colts. He played on 70% of special teams snaps for the Patriots last season. He has 52 tackles in his career. King brings some playoff experience, as he won two Super Bowls with the Patriots.
What's the risk: King comes to Indianapolis with a history of injury problems; he missed the 2019 and 2020 seasons due to injuries. King also doesn't play much on defense, taking part in a total of two defensive snaps for the Patriots last season.