What is holding up potential Colts trade for L’Jarius Sneed?

Here’s the latest update on a potential Colts trade for L’Jarius Sneed.

The Indianapolis Colts have been reported as a team with serious interest in trading for Kansas City Chiefs cornerback L’Jarius Sneed so what is holding up the potential move?

After Sneed was slapped with the franchise tag before free agency, this became a tag-and-trade situation. That means not only does an inquiring team have to give up draft capital, but they also have to draw up a new contract for Sneed.

Agreeing on trade details can be difficult in itself. But Stephen Holder of ESPN reported it’s the latter that’s keeping a move on hold.

The 27-year-old Sneed is coming off the best season of his career and has only gotten better since entering the NFL in 2020. He was a key piece to the Chiefs’ Super Bowl run, and he’s a perfect fit for the Colts defense.

Holder also reported the trade for Sneed isn’t coming from the Chiefs being unreasonable in their asking price. They understand it will be difficult to sign Sneed to a long-term deal, but it appears their asking price isn’t through the roof.

The Colts have spent over $200 million in re-signing their own players in free agency. They’ve added two outside free agents in the form of defensive tackle Raekwon Davis and quarterback Joe Flacco.

We’ll see if this trade continues to be stalled by contract talks, but it appears that’s where the situation stands.

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Report: Colts’ Michael Pittman Jr. agrees to 3-year contract extension

Michael Pittman Jr. gets his contract extension.

The Indianapolis Colts and wide receiver Michael Pittman Jr. agreed to a three-year contract extension, according to multiple reports Monday.

After applying the franchise tag before the deadline last week, the Colts and Pittman were able to come to an agreement on a big, three-year deal before the start of free agency.

According to Jordan Schultz of Bleacher Report, the deal is for three years and worth up to $71.5 million with $46 million guaranteed.

This move shouldn’t stop the Colts from adding to the wide receiver room, especially if a talented prospect like Rome Odunze or Brian Thomas Jr.—to name a few—are available with the No. 15 overall pick. But this locks in the team’s WR1 for the foreseeable future.

Pittman is coming off his best season in the NFL and has only gotten better with each season as a professional. He recorded 106 receptions for 1,152 yards during the 2023 season, both of which were career-high marks.

Despite working with seven different starting quarterbacks since entering the league in 2020, Pittman’s 3,662 receiving yards rank fifth among his peers in that draft class while his 336 receptions rank third behind only CeeDee Lamb (395) and Justin Jefferson (392).

In terms of Colts history, Pittman’s 336 receptions are the most in franchise history through a player’s first four seasons. He ranks third in receiving yards behind only T.Y. Hilton (4,413) and Marvin Harrison (4,141).

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Report: Colts ink Zaire Franklin to big 3-year contract extension

The Colts signed Zaire Franklin to a three-year extension.

The Indianapolis Colts reportedly are signing linebacker Zaire Franklin to a three-year contract extension, per multiple reports Monday morning.

Even though Franklin isn’t scheduled to be a free agent this offseason, it was likely that the Colts would have to revisit his contract considering the production he’s given the team over the last two seasons.

According to ESPN’s Adam Schefter, Franklin’s deal is for three years worth $31.26 million.

Franklin was slated to receive $2.88 million in 2024, which was the final year of his previous contract. His $2.3 million per year ranked 41st among NFL linebackers. Meanwhile, Franklin ranks second in the NFL in tackles (346) and solo tackles (209) over the last two seasons combined.

The value simply didn’t add up.

Though the structure will give us a better idea of how the contract breaks down, Franklin’s average annual value of $10.42 million per year ranks seventh among all linebackers. It puts him just ahead of Bobby Okereke’s $10 million average annual value with the New York Giants.

Franklin has been an extremely impactful player for the Colts ever since he took over the starting role in 2022. He has broken the single-season franchise record for tackles in a season in each of the last two campaigns.

Franklin is also beloved in the locker room and has been a team captain for four straight seasons (2020-2023).

 

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Dwight Freeney bestows Hall of Fame honor on Jim Irsay

Dwight Freeney wants the boss to present him in Canton.

Few owners can say they have the type of relationship with players that Jim Irsay has with the Indianapolis Colts. The recent request from Hall of Fame defensive end Dwight Freeney furthers that notion.

Irsay has been the presenter at the Hall of Fame induction ceremony for two of his players over the last decade. First, it was wide receiver Marvin Harrison in 2016. Then, it was running back Edgerrin James in 2020.

Now, the legendary Freeney will be added to the list of players who requested Irsay present them at their Hall of Fame induction.

Freeney was voted into the Hall of Fame as a part of the Class of 2024. He will officially be enshrined into Canton during the ceremony on Aug. 3.

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Colts’ Ryan Kelly pays touching tribute to Jason Kelce

Ryan Kelly paid homage to Jason Kelce following his retirement.

Ryan Kelly may be the longest-tenured player on the Indianapolis Colts roster but even he has someone to look up to. In his case, that comes in the form of Jason Kelce.

The longtime Philadelphia Eagles center announced his retirement from the NFL on Monday after spending 13 seasons developing into one of the best players at his position in the history of the game.

Kelly, who has been a solid center throughout his career in his own right, paid a touching tribute to Kelce, someone he considers a role model.

Kelce’s work on the field speaks for itself. He was a six-time All-Pro First-Team selection and seven-time Pro Bowl selection. He anchored an Eagles offensive line that helped with Super Bowl LII.

Kelly enjoyed a bounce-back season in 2023 after struggling to repeat his form during the two seasons prior. He’s also endured unimaginable hardship off the field, including the tragic loss of his unborn daughter toward the end of the 2021 season.

Kelly has one more season under contract with the Colts and will enter his age-31 season in 2024.

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Jelani Woods looks like man on a mission in workout video

Jelani Woods shows off some real progress.

Indianapolis Colts tight end Jelani Woods lost the entire 2023 season dealing with nagging hamstring injuries, but he appears to be on track to making an impact in 2024.

His absence was nothing short of disappointing considering the explosiveness he brings to the offense. Not being able to see what he looked like in Shane Steichen’s offense was a major letdown.

But a workout video he posted Wednesday should give Colts fans a little hope that we’ll see him on the field in 2024.

The uber-athletic tight end posted some medicine ball workouts emphasizing explosiveness and body control. It’s easy to forget how mammoth of a person Woods is after not seeing him for an entire season.

Woods posted a 25-312-3 receiving line on 40 targets during his rookie season, showcasing some immense explosiveness despite a limited role.

The Colts are likely to address the tight end position one way or another during the 2024 offseason, but this development should bring a sliver of hope for Woods’ return after a long absence.

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Report: Colts showing interest in trade for L’Jarius Sneed

The Colts reportedly have interest in trading for CB L’Jarius Sneed.

The Indianapolis Colts reportedly have expressed interest in a potential trade for Kansas City Chiefs cornerback L’Jarius Sneed.

After the Chiefs applied the non-exclusive franchise tag on the star cornerback ahead of Tuesday’s deadline, it was reported by Tyler Dragon of USA TODAY Sports that multiple teams have expressed interest.

The Colts were listed among the group of teams looking into a potential trade for the Chiefs’ top cornerback.

Sneed still has permission to seek a trade despite the designation. A person with direct knowledge of the situation told USA TODAY Sports that the Minnesota Vikings, Indianapolis Colts, Tennessee Titans, New England Patriots, Detroit Lions, Atlanta Falcons and Jacksonville Jaguars have expressed interest in the Chiefs corner.

Considering the need the Colts have at the cornerback position, Sneed is a top option for the front office to pursue. He’s improved his play every season in the NFL, and enjoyed a breakout campaign helping the Chiefs win another Super Bowl.

According to Pro Football Focus, Sneed allowed 53 receptions on 102 targets (52%), 10.3 yards per reception and a 66.0 passer rating in coverage during the 2023 season.

The Colts like what they have in second-year cornerback Julius Brents on the boundary, but he needs to prove he can stay healthy. They also have fellow second-year corner Jaylon Jones, who flashed some promise. But he’s likely best suited as a rotational depth piece than a full-time starter.

Adding a talent like Sneed won’t be cheap. It would likely cost the Colts at least a Day 2 draft pick, and then they would need to sign him to a contract extension.

However, it’s not often a player with Sneed’s talent and seamless fit within Gus Bradley’s scheme becomes available so this certainly is something to keep an eye on.

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Colts place franchise tag on WR Michael Pittman Jr.

Michael Pittman Jr. has been franchise tagged.

The Indianapolis Colts applied the non-exclusive franchise tag on wide receiver Michael Pittman Jr., first reported by Tom Pelissero of NFL Network on Tuesday. The team confirmed the news shortly afterward.

The deadline to apply the franchise tag was 4:00 p.m. ET on Tuesday, which means the Colts had to make a decision if they failed to reach a long-term contract extension with their star wideout.

It seems the two sides couldn’t come to an agreement on a new deal, but the application of the franchise tag extends the window to negotiate further throughout the spring and summer.

The value of the franchise tag at wide receiver is $21,816,000 for the 2024 season.

Colts general manager Chris Ballard made it clear they want Pittman here for the long haul and that the 26-year-old will be a member of the team in 2024 regardless of whether it’s on a new contract or under the franchise tag.

The non-exclusive tag will allow Pittman to field offers from other teams. It also gives the Colts the chance to match or refuse any offer that is made. If the Colts refuse an offer made to Pittman by another team, and he agrees to that deal, the Colts would be compensated with two first-round picks.

The likelihood of a tag and trade scenario is unlikely unless both sides are on completely opposite ends of the spectrum.

There is mutual interest in keeping Pittman as a member of the Colts so this move is likely a tactic to extend the window of negotiations. Pittman doesn’t have to sign the franchise tag until the middle of July.

This is the first time since 2013 the Colts have used the franchise tag.

Pittman is coming off his best season in the NFL and has only gotten better with each season as a professional. He recorded 106 receptions for 1,152 yards during the 2023 season, both of which were career-high marks.

Despite working with seven different starting quarterbacks since entering the league in 2020, Pittman’s 3,662 receiving yards rank fifth among his peers in that draft class while his 336 receptions rank third behind only CeeDee Lamb (395) and Justin Jefferson (392).

In terms of Colts history, Pittman’s 336 receptions are the most in franchise history through a player’s first four seasons. He ranks third in receiving yards behind only T.Y. Hilton (4,413) and Marvin Harrison (4,141).

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Drew Ogletree’s domestic violence charges dismissed

The charges against Drew Ogletree have been dismissed.

The domestic violence charges against Indianapolis Colts tight end Andrew Ogletree were dismissed in Hendricks County on Tuesday.

Ogletree, who is currently on the Commissioner Exempt List, was arrested in December on two counts of domestic battery. However, prosecutors determined there was a lack of evidence after further investigation.

Ogletree’s attorney, Brian Hamilton, released the following statement after the charges were dismissed:

“Today, the State of Indiana filed an unconditional dismissal of all charges against Andrew Ogletree. While preliminary investigations may have led to an arrest, that was only the start of the investigation process. Law enforcement officials continued their investigation into the facts of this case, and after completing their review of the evidence, the Hendricks County Prosecutor dismissed the case.

Andrew has always maintained his innocence and he has been fully exonerated. Andrew would like to thank the Hendricks County Prosecutor’s Office and the Avon Police Department for their professionalism and their never-ending pursuit of the truth.

Additionally, Andrew deeply appreciates his family, friends and fans who stood by him during these proceedings. Finally, Andrew is forever grateful to his attorneys who believed in his innocence and fought tirelessly for today’s result.”

Ogletree was on the Commissioner’s Exempt List, which is essentially paid leave, following his arrest. Though the charges were dropped, the NFL is still expected to conduct its own investigation, which means Ogletree is likely to remain on the exempt list until that is concluded.

The Colts have a crowded tight end room, and they are expected to add to the position at some point throughout the offseason so it remains to be seen what will become of Ogletree’s future with the team.

Regardless, the dismissal of charges brings Ogletree one step closer to getting back onto the football field.

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NFL sets 2024 salary cap at record $255.4 million

The NFL set the salary cap at $255.4 million for the 2024 season.

The NFL set the salary cap at $255.4 million for the 2024 season, the league announced Friday.

In what was a $30 million increase from the 2023 season, the NFL said in a release Friday that the unprecedented increase was a result of the repayment from the COVID-19 pandemic.

The NFL announced today that the 2024 Salary Cap will be $255.4 million per club, with an additional $74 million per club payment for player benefits, which includes Performance Based Pay and benefits for retired players. Total 2024 player costs will be $329.4 million per club, or more than $10.5 billion league-wide.

The unprecedented $30 million increase per club in this year’s Salary Cap is the result of the full repayment of all amounts advanced by the clubs and deferred by the players during the Covid pandemic as well as an extraordinary increase in media revenue for the 2024 season.

Considering the Colts were expected to work with something between $242-245 million for the salary cap, this gives them a bit more flexibility when it comes to signing contracts.

According to Over The Cap, the Colts are working with roughly $68.1 million in effective salary-cap space, which ranks as the fifth-highest mark in the NFL.

Though player demands will likely go up given this news, this should make life a bit easier for the front office in terms of contract extensions for the big names set to hit free agency.

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