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Colts 2026 free agency tracker: Latest signings, losses, news & rumors

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The Indianapolis Colts are approaching a critical free agency cycle this year, as CEO Carlie Irsay-Gordon's patience has dwindled with general manager Chris Ballard and head coach Shane Steichen to succeed.

The Bigger Needs

  • Defensive end
  • Linebacker
  • Safety
  • Offensive line
  • Wide receiver

With everything free agency-related in mind, here's what you need to know about what's happening in this regard with the Colts.

Exclusive Rights Free Agents

The Colts have one player on the roster labeled as an exclusive rights free agent, linebacker Austin Ajiake. He was already signed to a one-year, $1.005 million deal on January 5th of this year.

Ajiake is locked in for the 2026 season after getting his first action since joining Indianapolis in 2023 as a member of the practice squad.

Ajiake put up 32 tackles and two quarterback hits through 16 games in 2025. Don't expect a lot of meaningful playing time from Ajiake, but he'll be a valuable depth piece who could see time on special teams.

Restricted Free Agents

Currently, Indianapolis has five restricted free agents on the roster. For context, restricted free agents are players with three accrued seasons whose contract has expired but whose team still holds certain rights over them.

  • Tyler Goodson | Running back
  • DJ Montgomery | Wide receiver
  • Luke Tenuta | Offensive tackle
  • Cameron Mitchell | Cornerback
  • Segun Olubi | Linebacker

The Colts can choose to tender them, and if they do, the player can negotiate with other teams, similar to the situation with Daniel Jones. If an offer sheet is signed, Indy has a chance to match it. If not, depending on the tender level, the Colts could receive draft compensation.

So far, no public reports have surfaced of any tenders for any of these five players.

Re-Signings

  • Blake Grupe | Kicker
  • Alec Pierce | Wide Receiver
  • Daniel Jones | Quarterback
  • Drew Ogletree | Tight End
  • Laquon Treadwell | Wide Receiver

Kicker Blake Grupe joined Indianapolis in 2025 after being released by the New Orleans Saints. The Colts started with Spencer Shrader, but his season ended after just five games against the Las Vegas Raiders with an ACL/MCL injury.

After an underwhelming showing from veteran Michael Badgley, the Colts turned to Grupe as a last-ditch solution. Grupe took this seriously, finishing with 11/11 field goals and 10/10 extra points.

Now, a kicking competition is set to take place between Grupe and Shrader for the 2026 season.

As for Alec Pierce, the Colts reached a blockbuster four-year, $114 million deal with $60 million guaranteed to retain his services in 2026 and beyond.

Jones finally inked a contract to make him the Colts quarterback for the next two seasons. Jones and Indianapolis agreed to a two-year, $88 million deal that could be worth up to $100 million.

This is the largest two-year contract in NFL history, and Jones will get $50 million in guaranteed money for the 2026 season.

Now, Indianapolis will look to make adjustments to round out the rest of the roster.

The Colts agreed on a one-year deal with tight end Drew Ogletree, who is primarily a blocker for Shane Steichen's offense. Ogletree had just four catches for 27 yards and a touchdown in 2025.

The Colts have traded two wide receivers over the past five months: Michael Pittman Jr. and Adonai Mitchell. Indy did agree to an extension with Alec Pierce, but the room still needed some depth.

On Friday, the Colts and Laquan Treadwell finalized a one-year deal to bring the veteran and former first-round pick back for Year 11. He'll play a leadership role in the Colts' young wide receiver room.

Restructures

  • Bernhard Raimann | Offensive tackle (converted $11 million of original $13 million base salary in 2026 into a signing bonus. Opens up $8.25 million in cap space.)

Rumors

The Colts lost the Trey Hendrickson sweepstakes after the trade between the Baltimore Ravens and Las Vegas Raiders for Crosby fell apart. This means they still need a true starter who can make a different to pair with Laiatu Latu.

A name that ESPN's Jeremy Fowler brought up as a name to watch is Minnesota Vikings defensive end Jonathan Greenard.

The Colts are a team that should be heavily considering this trade, as there aren't many more edge rushers available at Greenard's caliber.

New Signings

  • Arden Key | Defensive end
  • Micheal Clemons | Defensive lineman
  • Derrick Nnadi | Defensive lineman
  • Jonathan Owens | Safety
  • Juanyeh Thomas | Safety

Indianapolis' first external free agent signing was veteran edge rusher Arden Key.

Key has eight years in the NFL and played the last three years with the Tennessee Titans. While he's not a star, he'll give the pass rush valuable depth. Through his 116 games, he's stacked 30.5 sacks and 39 tackles for loss.

Next, Indianapolis continued to pad the defensive line by signing former New York Jets defender, Micheal Clemons.

After trading for Colby Wooden, Indianapolis brings on Clemons to back up Grover Stewart and DeForest Buckner on a three-year, $17.5 million contract with upside to hit $18.5 million.

Clemons has four years in the NFL and has put up 8.5 sacks, 119 tackles, 20 quarterback hits, and 13 tackles for loss.

Derrick Nnadi was inked to a fresh contract to add more to the defensive interior. Indianapolis has now added Wooden through a trade, Clemons, and Nnadi, further solidifying their defensive tackle depth.

Once Nick Cross departed for the Washington Commanders, the Colts had a starting spot to fill. They didn't make any big-splash signings, but they brought on Jonathan Owens and Juanyeh Thomas as depth pieces who could compete for the starting job.

Both Owens and Thomas have experience on special teams. They'll undoubtedly make an impact in the third phase if they don't get many defensive snaps.

Departures

  • Kwity Paye | Defensive end (Las Vegas Raiders)
  • Braden Smith | Offensive tackle (Houston Texans)
  • Michael Pittman Jr. | Wide receiver (Pittsburgh Steelers via trade)
  • Nick Cross | Safety (Washington Commanders)
  • Neville Gallimore | Defensive tackle (Chicago Bears)
  • Zaire Franklin | Linebacker (Green Bay Packers via trade)
  • Rodney Thomas II | Safety (Seattle Seahawks)
  • Samson Ebukam | Defensive End (Atlanta Falcons)

Kwity Paye wasn't expected to re-sign with the Colts, thus opening the door for the Las Vegas Raiders to ink him to a three-year, $48 million deal.

Braden Smith spent eight seasons with the Colts, but struggled with injuries along the way. After seeing Jalen Travis play well during Smith's four games missed in 2025, Indy was content letting him walk.

The Houston Texans signed him to a two-year deal worth up to $25 million, with $13 million guaranteed.

As for Michael Pittman Jr., the Colts freed up $24 million in cap space by trading him to the Pittsburgh Steelers.

Indianapolis received a sixth-round pick from Pittsburgh, but gave the AFC North contender a seventh-rounder in the process.

After spending four years with the Colts, safety Nick Cross found a new home through free agency with the Washington Commanders.

Cross signed a two-year, $14 million deal, which opens up another defensive need for the Colts to address.

Neville Gallimore spent just one season with Indianapolis but was productive in his depth role, recording 3.5 sacks and 38 tackles, both career highs. He's now a member of the Chicago Bears.

Long-time Colts linebacker Zaire Franklin was dealt off to the Green Bay Packers in exchange for defensive tackle Wooden.

After spending eight years with the Colts and earning a Pro Bowl and Second-Team All-Pro nomination, the Colts felt it was time to part ways with Franklin.

Indianapolis freed up $5.75 million in cap space for the 2026 season with this trade.

Rodney Thomas II found a new home with the Seattle Seahawks after spending four years with the Colts.

After some underwhelming performances following a promising rookie year, Indianapolis will look to add new safety depth.

Ebukam was signed to a three-year deal by the Colts in 2023 and immediately paid off. Ebukam finished with 9.5 sacks to lead the team.

Sadly, an Achilles injury took away his 2024, and he was a ghost of himself in 2025 (2.0 sacks).

Now Ebukam joins the Atlanta Falcons as Indianapolis morphs its defensive end position around Laiatu Latu.

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This article was originally published on www.si.com/nfl/colts/onsi as Colts 2026 Free Agency Tracker: Latest Signings, Losses, News & Rumors.

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