How Zaire Franklin’s new 3-year contract breaks down for Colts

Here’s how Zaire Franklin’s new contract breaks down.

Indianapolis Colts linebacker and defensive captain Zaire Franklin signed a three-year contract extension with the team just before the start of free agency.

Franklin is the only player thus far to sign an extension this offseason with a full year remaining on his deal. The Colts tacked on the three-year contract to his existing deal, meaning the contract runs through the 2027 season.

The three-year deal is worth $31.26 million, including $17.62 million guaranteed, and ranks eighth among linebacker contracts. Here’s how the deal breaks down after the 2024 season, according to Over The Cap:

Three years, $31.26 million

$5 million signing bonus

2025
– $5.74 million base salary (guaranteed)
– $30,000 per game roster bonus
Cap Hit: $7.5 million (2.3%)

2026
– $6.24 million base salary
– $45,000 per game roster bonus
Cap Hit: $8.255 million (2.9%)

2027
– $8.24 million base salary
– $45,000 per game roster bonus
Cap Hit: $10.255 million (3.3%)

Franklin doesn’t have any guaranteed money on the contract after the 2025 season, which is when he’ll be entering his age-30 campaign.

The Colts can save $5.755 million in cap space while incurring a $2.5 million dead cap hit if he’s released or traded during the 2026 offseason. They would save $9 million in cap space and incur $1.25 million in dead cap if he’s released or traded during the 2027 offseason.

Franklin has earned a new contract after being one of the most productive linebackers in the NFL over the last two seasons. He’s a team captain every season, and he gets a nice chunk of change upfront.

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Why Colts should still add LB depth after Zaire Franklin new contract

The Colts inked Zaire Franklin to a contract extension. But here’s why they should still add depth in the draft.

Before the legal tampering period ahead of free agency got underway, the Indianapolis Colts made an in-house move to keep linebacker Zaire Franklin under contract for a little while longer.

Franklin agreed to a three-year contract extension that is worth up to $31.26 million. The extension shouldn’t come as too big of a surprise.

Franklin was set to make $3.36 million in the final year of his contract, and he far surpassed that value with his performance over the past two seasons.

This was a crucial deal for Chris Ballard to get done before Monday. That’s because the Colts had no linebackers under contract for the 2025 season since E.J. Speed is also entering the final year of his deal. This includes the backups that are currently on the roster like Segun Olubi and Grant Stuard.

How does this contract extension impact Indy’s draft plans?

It shouldn’t have a major impact. At least, it shouldn’t keep them from adding to the room if they want to.

Even with the extension, the Colts need depth in their linebacker room. They need to add some competition for the No. 3 linebacker slot on the depth chart. Franklin’s extension can provide some patience in targeting the position unless there is a prospect the front office really likes.

Ballard did that in 2019 when they had Shaquille Leonard and Anthony Walker as the starting duo. They added Bobby Okereke in the third round and E.J. Speed in the fifth round of that draft. Ben Banogu also could be thrown in there, but he was viewed more as a pass rusher than a linebacker.

Prior to this deal getting done, it would have been understandable if Ballard elected to take a linebacker as high as the second round if he entered the draft with no linebackers under contract beyond the 2024 season.

As I alluded to, if Ballard loves the potential of a linebacker prospect, it still wouldn’t be a major surprise if Indianapolis took a linebacker as early as the second round since as of this writing, there is no guarantee that Speed will be on the roster in 2025.

That of course if Ballard doesn’t trade away that pick in the coming days to add to the secondary.

The wide expectation will remain that the Colts focus their draft capital on other positions. The Franklin extension was necessary, but it doesn’t mean they shouldn’t keep an eye on the future if the right prospect is available.

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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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Colts report card: Grading each position from 2023

Grading each position for the Colts in 2023.

The Indianapolis Colts are gearing up for a pivotal offseason in 2024 as they look to build on some impressive success in the first year under head coach Shane Steichen.

Though the 2023 season didn’t go as planned in terms of making the playoffs, there were still some developments that should bring optimism moving forward for the franchise.

Now, we’re going to grade each position for the Colts after the 2023 campaign as they prepare for a decisive offseason:

10 questions the Colts face entering 2024 offseason

Checking out the biggest questions the Colts face in 2024.

The Indianapolis Colts have a vital offseason ahead of them with the chance to build off an impressive 2023 campaign that ended in heartbreak but one that provided hope, nonetheless.

As we gear up for the 2024 offseason, the Colts will have plenty of ammo to make some big moves in both free agency and the NFL draft. What happens is anyone’s guess, and there will be major questions facing the organization this offseason.

Some of them will be answered over the course of the offseason. Others may not be answered until we get into the regular season.

Either way, here are 10 questions the Colts face entering the 2024 offseason:

8 Colts who could receive contract extensions this offseason

Taking a look at eight Colts who could receive contract extensions this offseason.

Ever since Chris Ballard took over as general manager of the Indianapolis Colts, they have been a team not afraid to hand out contract extensions to players they feel have earned it.

This is a big offseason for a Colts organization that is looking to build a playoff contender after narrowly missing out on the postseason. Re-signing some pending free agents to new deals and handing out some contract extensions to players currently under contract will be two ways of doing so.

We’re taking two schools of thought here as it pertains to contract extensions. The first includes pending free agents we believe could earn a multi-year deal before the new league year arrives in March.

The other includes players going into the final year of their current contract. We’ve seen Ballard hand out extensions in the past when players have one year remaining on current deals before that final season arrives. In theory, these deals would likely get done during the summer after free agency and the 2024 NFL draft have already passed.

Admittedly, we’re casting a pretty wide net here. Not all of the players below will receive a new deal this offseason. In fact, the majority of them probably won’t. But if there’s a slight chance they might, we’re going to make the argument as to why it could happen.

Here are eight Colts currently under contract who could receive a contract extension during the 2024 offseason:

Colts’ year-end awards from 2023 season

Handing out awards for the 2023 Colts.

The 2023 season ended in disappointing fashion for the Indianapolis Colts, but there are plenty of reasons to be excited for the future given what they showed throughout the campaign.

Considering where the Colts were just one year ago at this time, the outlook of the franchise is far more positive. They have a strong leader in Shane Steichen, a young quarterback in Anthony Richardson who shows promise, and some solid pieces to work off of this offseason.

But before we get into the thick of the offseason plans and predictions, it’s time to take a look back at the 2023 season and hand out some awards.

From MVP to the biggest disappointment, here are the Colts’ year-end awards from the 2023 campaign:

Colts had no All-Pro selections for 2023

The Colts had no All-Pro selections in 2023, but several players were close.

The Indianapolis Colts were not represented with any selections on the All-Pro First or Second Teams for the 2023 season, but several players were right on the cusp.

While the majority of the time the First-Team selections are what truly stick around, it’s notable when players are voted as Second-Team selections. It’s even noteworthy if a player fails to garner either selection but still receives votes.

The way the system works is the panel of 50 writers vote for each position. If a player is voted on the first team, that vote is worth three points. Second-team votes are worth one point. The players with the most points total get selected.

For the Colts, the following positions received no votes whatsoever for the 2023 AP All-Pro teams:

  • Quarterback
  • Running Back
  • Wide Receiver
  • Tight End
  • Left Tackle
  • Right Guard
  • Edge Rusher
  • Cornerback
  • Kick/Punt Returner
  • Special Teamer

Now, let’s take a look at the Colts players who did receive votes for the 2023 AP All-Pro teams, courtesy of the Associated Press’ Rob Maadi:

Colts’ Quenton Nelson named AFC Pro Bowl team

Big Q is the lone Colts representative on the AFC Pro Bowl team.

Indianapolis Colts left guard Quenton Nelson was named to the AFC team for the 2024 Pro Bowl games, the league announced Wednesday night.

Nelson is the only Colts player to be represented on the starting squad while four others were named alternates. Those include defensive tackle DeForest Buckner, wide receiver Michael Pittman Jr., center Ryan Kelly and linebacker Zaire Franklin.

Nelson certainly deserves the honor of being a Pro Bowler for the sixth time in his career. He’s enjoying a strong bounce-back season both in pass protection and as a run blocker.

 

There certainly can be an argument made that Buckner and Franklin were snubbed. Buckner has been the engine of a Colts defense that set the franchise record for sacks in a season. Despite continuously seeing high rates of double teams, Buckner has produced consistently.

Franklin leads the NFL in tackles (170) and the AFC in solo tackles (104). Both Baltimore Ravens linebackers Roquan Smith (84) and Patrick Queen (78) both have fewer solo tackles but were named starting inside linebackers.

Pittman Jr. is enjoying a career season. Entering the finale, he has 104 receptions for 1,108 yards and four touchdowns. His reception and yardage totals are both career-highs. His receptions are third among AFC wideouts behind only Tyreek Hill (112) and Keenan Allen (108), and his yardage ranks sixth-best among all AFC wideouts.

Kelly is also enjoying a bounce-back season despite missing three games due to concussions. He has been one of the best centers in terms of pass protection this season, and he’s held up very strongly in the run game.

We’ll see if any of these alternates get added to the starting squad between injuries and Super Bowl players not being able to attend.

For now, the Colts will be represented by just one player.

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Colts vs. Steelers: Updated injury report for Week 15

Here’s the updated injury report for the Colts and Steelers in Week 15.

The Indianapolis Colts (7-6) and Pittsburgh Steelers (7-6) released their updated injury reports Wednesday ahead of the Week 15 matchup at Lucas Oil Stadium.

Here’s a look at the updated injury report for the Colts in Week 15:

*DNP = Did Not Participate — LP = Limited Participant — FP = Full Participant*

Notes

  • The Colts returned to practice Wednesday after starting the short week with a walkthrough.
  • CB Julius Brents appears to be on track to return after logging two full practices for the first time since suffering his quad injury in Week 7.
  • RT Braden Smith and RB Jonathan Taylor don’t seem likely to play this week unless they log a practice Thursday.
  • LBs Segun Olubi and Zaire Franklin are new additions to the injury report this week.
  • The Colts will release their final injury report with designations Thursday.

Here’s a look at the updated injury report for the Steelers in Week 15:

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