The Indianapolis Colts and pending free agent kicker Matt Gay agreed to a four-year deal Monday night as the legal tampering period commenced. This was no ordinary contract, either, as Gay is set to make a bit of history.
Though the deal isn’t official until Wednesday at 4:00 p.m. ET at the earliest, the Colts reportedly are set to sign Gay to a four-year deal worth up to $22.5 million.
That contract is the richest ever given to a kicker in free agency and, according to Tom Pelissero of NFL Network, Gay will make the most money over three years for a kicker on the deal.
The #Colts are signing kicker Matt Gay to a four-year, $22.5 million deal. Biggest ever deal for a kicker in free agency and most money over three years for a kicker on the deal negotiated by @davidcanter and @NessMugrabi https://t.co/W9DJIytUWe
— Tom Pelissero (@TomPelissero) March 14, 2023
Gay’s agent, David Canter, certainly felt the fit with the Colts was perfect, especially since his client made a bit of history with the deal.
Rarely are deals in free agency perfect for a player, his family, and the team. This is perfect. Welcome back to @Colts @gsefootball client @MGtweetymonster Congratulations on breaking even more records! pic.twitter.com/P4OwRre8y8
— David Canter (@davidcanter) March 14, 2023
Assuming all goes according to plan, Gay’s $22.5 million is the third-highest contract among active kickers currently in the NFL behind Younghoe Koo ($24.25 million) and Justin Tucker ($24 million). His $5.6 average annual value (AAV) also ranks second behind only Tucker.
The Colts have had severe kicking issues since the retirement of the legendary Adam Vinatieri, but they seemed to have found some stability with Chase McLaughlin during the 2022 season.
Still, Gay appeared to be one of the top priorities as he was the first outside free agent to agree to a deal with the team. Gay started out with the Tampa Bay Buccaneers in 2019 and spent some time with the Colts during the 2020 season before the Los Angeles Rams plucked him from the practice squad.
That’s where he’s been for the last three seasons as he’s made quite the name for himself.
A 2021 Pro Bowler, Gay has converted 101-of-115 field-goal attempts (87.8%) and 138-of-145 extra-point attempts (95.2%) during his career. He has converted 17-of-23 attempts from more than 50 yards. His career field-goal percentage ranks fifth-best all-time among kickers.
Most accurate kickers all-time.
*Justin Tucker – 90.5%
*Younghoe Koo – 89.1%
*Daniel Carlson – 88.3%
*Harrison Butker – 88.2%
*Matt Gay – 87.8%Gay is 17-of-23 on 50+ https://t.co/kukeWSn7sk
— Mike Chappell (@mchappell51) March 14, 2023
We’ll see how the contract breaks down in structure, but it’s clear the Colts were serious about not only upgrading the kicker position but finding a long-term solution.
Keep up to date with the latest news, signings and rumors through our free agency tracker for the Colts.
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