The Indianapolis Colts have a number of issues to fix this offseason. The team passed on a makeover in terms of general manager and coaching staff, but let's just hope for the best in the future. Chris Ballard is, after all, still the general manager, and he must decide who to try to re-sign in free agency.
The odd part is that Ballard seemingly gets a lot of credit for drafting well and building rosters. It is strange because he's been the GM for nine years, and only twice has Indy been to the playoffs in that time. If one is truly a builder of great rosters, more success would be expected.
Yet again, Ballard will have another season to prove he can be a good general manager. If Indianapolis fails in 2026, surely another GM will be in charge of the Colts' roster. But the roster next season might still have three players that Ballard needs to bring back. Will he?
According to Spotrac, Indianapolis has $41,763,038 in projected cap room in 2026. That might not be enough to bring back all of the three players below. In one case, it might not be enough to get back one of them.
Indianapolis Colts quarterback Daniel Jones
- Spotrac projected market value: Four years and $178,232,652 ($44.2 million a season)
If Jones is going to cost $44 million a season, Indy cannot afford to re-sign him at first glance. But contracts can be pro-rated so Indianapolis might still be able to get Jones back. Plus, Spotrac's projection could be an overestimation.
The quarterback has had three seasons end early due to injury, and teams will definitely take that into account. Other general managers will also weigh what Jones did with the New York Giants before he was released in 2024 versus what he did in the first half of 2025 with Indy. Is he truly either of those versions of himself?
Before he broke his fibula, which was before he tore his Achilles tendon, Jones was beginning to turn the ball over more. His ball control in the pocket is questionable, as is his consistent decision-making on when to go deep. Could the Colts be better by signing a different QB, or is Jones the perfect quarterback for Shane Steichen's system?
Indianapolis Colts wide receiver Alec Pierce
- Spotrac projected market value: Four years and $80,996,324 ($20.2 million a season)
Pierce is completely worthy of getting a huge pay increase this offseason, and he will get one. It just might not be with the Colts. The biggest financial decision Chris Ballard probably has is whether to sign Daniels or Pierce. Pierce, though, might decide he is a better fit in an offense that throws the ball more.
In each of the past two seasons, Pierce has led the NFL in yards per catch, but he doesn't seem to get the ball enough. He isn't ever going to lead the league in terms of catch-rate because of the routes he runs, but his explosiveness is without peer currently.
It might be better if the Indianapolis Colts release wide receiver Michael Pittman, who has a cap hit of $29 million, and Indy could save $24 million by letting him go. The team could then afford to bring back Pierce and Jones.
Indianapolis Colts safety Nick Cross
- Spotrac projected market value: Four years and $24,269,372 ($6.1 million a season)
Under new defensive coordinator Lou Anarumo, Cross was used differently in his fourth season compared to his previous three. The safety was used on designed blitzes, and was fairly effective. He had 16 pressures, including 2.5 sacks. He was also once again good against the run.
Where the safety sometimes struggles is in coverage. Over the past two seasons, he has allowed 10 touchdown passes and has a quarterback rating allowed of 107.2. He also allowed 11.3 yards per catch in 2025, two yards higher than his previous career worst.
Still, $24 million over four seasons is not expensive, and the Indianapolis Colts know what they would get from Cross. He's likely worth bringing back, unless another team outbids Indy.