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It was nearly a week ago that the NFL's free agency legal tampering period began, and the Indianapolis Colts have been fairly active, re-signing a number of their own free agents, while also bringing in some outside help.
However, there are still several roster holes that have to be addressed by GM Chris Ballard.
The good news is that the team is sitting very well salary cap-wise to make more additions. The not-so-good news is that at this stage of free agency, options are limited when it comes to finding high-impact players.
With the first wave of NFL free agency behind us, let's break down each Colts re-signing and new addition.
Alie-Cox filled a blocking-heavy role within the Colts' offense. Out of 46 eligible tight ends in 2025, Alie-Cox ranked 19th in run-blocking grade. The tight end position is led by Tyler Warren, but the Shane Steichen offense uses its fair share of two-tight-end sets. Warren brings a well-rounded skill set to the position, and those abilities can be maximized when paired with a stout blocking presence, like Alie-Cox.
Bringing Treadwell back provides the Colts with some experienced depth at the wide receiver position -- something they are currently short on, especially after trading Michael Pittman. A 10-year NFL vet, Treadwell has appeared in 93 games over his career. That stability can be valuable to call on if a team finds itself in a pinch, which the Colts did last year at the receiver position, adding Treadwell to the 53-man roster later in the year.
Ogletree was a sixth-round pick in the 2022 NFL draft by the Colts and has carved out a role as the team's third tight end, often relied on to provide a blocking presence. He's also been a core special teams contributor, playing on five of the six different phases last season.
Thomas, who went undrafted in 2022, is still just 25 years old. He's played just 549 career snaps, but seemed to be on his way to a more prominent role in 2025 before his season ended due to injury. Over 156 coverage snaps, Thomas was targeted only three times and held opponents to a modes 9.0 yards per catch. He's also generated four career pass breakups on only 21 targets. Thomas has experience both playing deep and down in the box and has often contributed on special teams. The Colts will hope to tap into the untapped potential that Thomas appears to possess.
Owens adds needed experience to the Colts' safety room. He will be entering his eighth NFL season. Like Thomas, Owens joins the Colts with his share of special teams experience, playing over 1,000 snaps in his career. Defensively, he has made 35 starts, most of which came during the 2022 and 2023 seasons. Owens played only 47 defensive snaps last season with Chicago. This is a low-risk signing that -- I'm guessing -- comes with minimal downside from a contract perspective.
The Colts sent Pittman and a 2026 seventh-round pick (230th overall) to Pittsburgh in exchange for a 2026 sixth-round pick (214th overall). This was a salary cap-saving measure by the Colts more than anything else. Moving on from Pittman created $24 million in 2026 cap space.
Adding Clemons to the mix provides the Colts with needed defensive end depth. Clemons should immediately slot in as a rotational member of this position. At 270 pounds and with the ability to line up inside, Clemons is a clear replacement for Tyquan Lewis, who is a free agent. According to PFF, Clemons' overall pass rush win rate was 2% higher last season than what Lewis produced. Clemons' pass rush win rate on true pass sets was almost 7% higher than Lewis' was.
Key fills more of a rotational role at defensive end for the Colts, potentially taking on similar responsibilities as Samon Ebukam did in this defense. Key will add some burst to the defensive end position. According to the Indy Star's Joel Erickson, "Key fills more of a rotational role at defensive end for the Colts." Key's production has been steady, with him recording between 33 and 40 pressures in each of the last three seasons.
Nnadi is listed at 6-1, 317 pounds and can provide a run-stuffing presence inside. In that role, Nnadi isn't going to fill up the stat sheet -- he has just six pressures over the last two seasons -- but ideally, his ability to take up space and occupy blockers can help in the run game and free up others. He may not be a roster lock, but he could be a backup option behind Grover Stewart.
Through the first 10 games of last season, the Colts were 8-2, led by Jones, who was one of the most productive quarterbacks in the NFL. As a result, the Colts also boasted one of the most efficient and effective offenses in the game. The effort made by the Colts to retain Jones is in large part due to the belief that the success he and the team had through the first half of last season can be replicated and sustained in 2026.
Pierce has earned himself a big payday, signing a four-year deal worth $114 million. After leading the NFL in yards per catch the last two seasons, Pierce is known for the home run ability he brings to the Colts' offense. However, as we saw last season, he can provide much more than that. During his time with the Colts, Pierce's route-running abilities have greatly improved, and with that, have come more opportunities to attack other levels of the field while doing so in a variety of ways.
This article originally appeared on Colts Wire: NFL free agency: Evaluating all 11 free agent signings made by Colts
Continue reading...
However, there are still several roster holes that have to be addressed by GM Chris Ballard.
The good news is that the team is sitting very well salary cap-wise to make more additions. The not-so-good news is that at this stage of free agency, options are limited when it comes to finding high-impact players.
With the first wave of NFL free agency behind us, let's break down each Colts re-signing and new addition.
Colts re-sign TE Mo Alie-Cox
Alie-Cox filled a blocking-heavy role within the Colts' offense. Out of 46 eligible tight ends in 2025, Alie-Cox ranked 19th in run-blocking grade. The tight end position is led by Tyler Warren, but the Shane Steichen offense uses its fair share of two-tight-end sets. Warren brings a well-rounded skill set to the position, and those abilities can be maximized when paired with a stout blocking presence, like Alie-Cox.
Colts re-sign WR Laquon Treadwell
Bringing Treadwell back provides the Colts with some experienced depth at the wide receiver position -- something they are currently short on, especially after trading Michael Pittman. A 10-year NFL vet, Treadwell has appeared in 93 games over his career. That stability can be valuable to call on if a team finds itself in a pinch, which the Colts did last year at the receiver position, adding Treadwell to the 53-man roster later in the year.
Colts re-sign TE Drew Ogletree
Ogletree was a sixth-round pick in the 2022 NFL draft by the Colts and has carved out a role as the team's third tight end, often relied on to provide a blocking presence. He's also been a core special teams contributor, playing on five of the six different phases last season.
Colts sign S Juanyeh Thomas
Thomas, who went undrafted in 2022, is still just 25 years old. He's played just 549 career snaps, but seemed to be on his way to a more prominent role in 2025 before his season ended due to injury. Over 156 coverage snaps, Thomas was targeted only three times and held opponents to a modes 9.0 yards per catch. He's also generated four career pass breakups on only 21 targets. Thomas has experience both playing deep and down in the box and has often contributed on special teams. The Colts will hope to tap into the untapped potential that Thomas appears to possess.
Colts sign S Jonthan Owens
Owens adds needed experience to the Colts' safety room. He will be entering his eighth NFL season. Like Thomas, Owens joins the Colts with his share of special teams experience, playing over 1,000 snaps in his career. Defensively, he has made 35 starts, most of which came during the 2022 and 2023 seasons. Owens played only 47 defensive snaps last season with Chicago. This is a low-risk signing that -- I'm guessing -- comes with minimal downside from a contract perspective.
Colts trade Michael Pittman to Steelers
The Colts sent Pittman and a 2026 seventh-round pick (230th overall) to Pittsburgh in exchange for a 2026 sixth-round pick (214th overall). This was a salary cap-saving measure by the Colts more than anything else. Moving on from Pittman created $24 million in 2026 cap space.
Colts sign DE Micheal Clemons
Adding Clemons to the mix provides the Colts with needed defensive end depth. Clemons should immediately slot in as a rotational member of this position. At 270 pounds and with the ability to line up inside, Clemons is a clear replacement for Tyquan Lewis, who is a free agent. According to PFF, Clemons' overall pass rush win rate was 2% higher last season than what Lewis produced. Clemons' pass rush win rate on true pass sets was almost 7% higher than Lewis' was.
Colts sign DE Arden Key
Key fills more of a rotational role at defensive end for the Colts, potentially taking on similar responsibilities as Samon Ebukam did in this defense. Key will add some burst to the defensive end position. According to the Indy Star's Joel Erickson, "Key fills more of a rotational role at defensive end for the Colts." Key's production has been steady, with him recording between 33 and 40 pressures in each of the last three seasons.
Colts sign DT Derrick Nnadi
Nnadi is listed at 6-1, 317 pounds and can provide a run-stuffing presence inside. In that role, Nnadi isn't going to fill up the stat sheet -- he has just six pressures over the last two seasons -- but ideally, his ability to take up space and occupy blockers can help in the run game and free up others. He may not be a roster lock, but he could be a backup option behind Grover Stewart.
Colts re-sign QB Daniel Jones
Through the first 10 games of last season, the Colts were 8-2, led by Jones, who was one of the most productive quarterbacks in the NFL. As a result, the Colts also boasted one of the most efficient and effective offenses in the game. The effort made by the Colts to retain Jones is in large part due to the belief that the success he and the team had through the first half of last season can be replicated and sustained in 2026.
Colts re-sign WR Alec Pierce
Pierce has earned himself a big payday, signing a four-year deal worth $114 million. After leading the NFL in yards per catch the last two seasons, Pierce is known for the home run ability he brings to the Colts' offense. However, as we saw last season, he can provide much more than that. During his time with the Colts, Pierce's route-running abilities have greatly improved, and with that, have come more opportunities to attack other levels of the field while doing so in a variety of ways.
This article originally appeared on Colts Wire: NFL free agency: Evaluating all 11 free agent signings made by Colts
Continue reading...
