Matt Gay to make history on new deal with Colts

A historic free-agent deal for new Colts kicker Matt Gay.

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.

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.

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.

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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