The Indianapolis Colts learned a harsh lesson about free agent spending in 2015. They tried to load for a 2015 Super Bowl run by signing a lot of free agents to expensive contracts, and it blew up in their face. Last year’s failure should change how general manager Ryan Grigson wants to approach free agency this year. As a result, the Colts will likely be cautious spenders in 2016.
After seeing free agent signing like Andre Johnson and Trent Cole not work out like he envisioned, the Colts have very a good reason to scale back on spending in 2016. The Colts committed a total of $35 million ($17 million guaranteed) to the pair of veterans and received minimal production from them. Now, the Colts are having discussion about releasing the veterans and accepting the financial hit both transactions would cost. The Colts definitely do not want to put themselves in this position again, and will limit the number of large contracts they offer.
Another reason the Colts will be low spenders in free agency is because of Andrew Luck. The Colts are committed to locking Luck up to a large contract extension this offseason. Colts owner Jim Irsay has already said Luck contract will be “shocking” and average at least $20 million per year. This sort of lucrative contract affects everything else the Colts want to do. This extension will take up a lot of the Colts’ cap space. As a result, they may not have the opportunity to sign a lot of top tier free agents to large contracts.
In four years as the Colts’ general manager, Grigson has always tried to be aggressive during free agency. However, there are early indications that he may abandon that approach this offseason. At the NFL Combine, Grigson seemed open to the possibility of not going after a lot of players in 2016. Irsay might have a bit to do with this. Prior to Grigson arriving in 2012, Irsay had never been a true advocate of spending a lot in free agency. Grigson is probably leaning on Irsay’s input more following the failure of the 2015 class.
Even though the Colts will likely take a conservative approach this offseason, it does not mean they will be inactive during free agency. The Colts will likely focus on signing one or two notable free agents rather than trying to lock up every big name they can find.
