The Indianapolis Colts have a crucial offseason ahead, filled with key roster decisions and limited resources. While they have several positions to address, they must navigate their salary cap space wisely and make smart draft choices. With just over $28 million in salary cap space—ranking 18th in the NFL—they do have room to maneuver but must be strategic about it. Additionally, they hold seven draft picks, one in each round, providing a solid opportunity to build for the future.
General Manager Chris Ballard emphasized in his end-of-season press conference that adding competition across the roster will be a major focus. However, that doesn’t necessarily mean chasing the top free agents at every position. Instead, the Colts can look at some underrated but impactful options who could fill key needs without breaking the bank.
Underrated Free Agent Targets for the Colts
Cornerback: Paulson Adebo (New Orleans Saints)
One of the biggest needs for the Colts is at cornerback, and Paulson Adebo could be a great value pick. While he played in only seven games last season due to a broken femur, his performance over the 2023 and 2024 seasons speaks volumes. Adebo has allowed just a 58% completion rate and 13.8 yards per catch while showcasing excellent ball production—seven interceptions and 18 pass breakups.
PFF highlights that his aggressive playstyle makes him a perfect fit for a defensive coordinator who prefers man coverage. If the Colts are looking for a physical, disruptive presence in the secondary, Adebo could be a steal in free agency.
Safety: Elijah Molden (Los Angeles Chargers)
Another position that could use reinforcements is safety, and Elijah Molden fits the bill. He primarily played as a deep safety for the Chargers in 2024, which aligns well with the Colts’ current scheme, considering Nick Cross held down the strong safety role last season.
Molden brings strong tackling ability and coverage skills, holding opponents to under 10 yards per reception while snagging three interceptions, two pass breakups, and posting a passer rating of just 44.8 when targeted. While he might not offer the same versatility as some other safeties, he thrives in a well-defined deep coverage role—a crucial asset in today's pass-heavy league.
Linebacker: Tyrel Dodson (Miami Dolphins)
Linebacker depth is another priority for the Colts, especially someone who can complement Zaire Franklin in coverage. Tyrel Dodson has consistently ranked as one of the top coverage linebackers in PFF's grading system over the past two seasons.
During that span, Dodson has kept opposing receivers to just 9.0 yards per catch while tallying three interceptions (all in 2024), four pass breakups, and a cumulative passer rating of 88.6. In a league where coverage linebackers are more valuable than ever, Dodson’s ability to track and contain receivers makes him an intriguing option.
Tight End: Mike Gesicki (Cincinnati Bengals)
The Colts’ passing game could use a boost at tight end, and while the free agent class isn’t particularly deep, Mike Gesicki stands out as a solid option. His production rebounded in 2024 with the Bengals, recording 665 receiving yards at 10.2 yards per catch, along with two touchdowns.
What makes Gesicki particularly valuable is his role in the passing game. Nearly 70% of his snaps came from the slot, emphasizing his ability as a receiving tight end rather than an in-line blocker. If the Colts want a pass-catching weapon to create mismatches in coverage, Gesicki could be an excellent addition.
Final Thoughts
The Colts have some tough decisions ahead, but their focus shouldn’t just be on big-name signings. Smart, underrated free agency pickups like Adebo, Molden, Dodson, and Gesicki could make a significant impact while allowing the team to allocate resources effectively.
With a combination of strategic free-agent signings and a well-executed draft, Indianapolis could put together a roster that not only competes but thrives in 2024 and beyond. The key will be making the right choices now to maximize their potential later.
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