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    Indianapolis Colts Offseason Preview 2023: Free Agents, Cut Candidates, and Team Needs

    A first look at the Indianapolis Colts' 2023 offseason, with a rundown of their free agents, cut candidates, cap space, and team needs.

    The Indianapolis Colts are a team in major transition. They are about to embark on a coaching search, but it’s important to note that the failure of 2022 wasn’t just limited to Frank Reich.

    There are team needs up and down the Colts’ roster — and probably more than can be addressed in one offseason. We explore what’s next for Indy, looking at the Colts’ free agents, cut candidates, and more.

    Indianapolis Colts Offseason Preview: The Coach Search Begins

    Stop us if you’ve heard this before: The Indianapolis Colts need to find a quarterback this offseason. That’s nothing new. They’ve had five different Week 1 starters since 2018. Here’s something that is new: The coach who will be stuck with whatever quarterback Chris Ballard decides on.

    Reich used up all of his chances and paid the price after the most recent supposed savior — Matt Ryan — turned to stone before our eyes. Reich’s midseason firing allowed Jim Irsay to indulge in a personal fantasy: Have Jeff Saturday be the Colts’ head coach. That failed, too, and now a wide-ranging search can begin.

    But how desirable will Indianapolis’ opening be? Candidates know they’re inheriting a bad roster built by a bad GM and an unpredictable owner who’s sick of losing.

    Colts’ 2023 Salary Cap Space

    According to Spotrac, the Colts, as of early January, were under the 2023 salary cap by $27.8 million, giving them the 11th-most space in the NFL.

    That figure includes $3.2 million in dead cap and $7.2 million in rollover space. It is based on an estimated $225 million NFL salary cap in 2023.

    The exact cap figure will not be known until the NFL announces it in early March.

    Colts Free Agents 2023

    The following Indianapolis Colts players are set to hit free agency. Restricted free agents are noted with the abbreviation RFA and exclusive rights free agents by ERFA.

    • DE Ben Banogu
    • CB Tony Brown
    • WR Parris Campbell
    • DT Byron Cowart
    • WR Ahston Dulin
    • CB Brandon Facyson
    • P Matt Haack
    • RB Deon Jackson (ERFA)
    • DE Khalid Kareem (RFA)
    • OT Dennis Kelly
    • DT Tyquan Lewis
    • K Chase McLaughlin
    • FS Rodney McLeod
    • DE Yannick Ngakoue
    • LB Bobby Okereke
    • G Matt Pryor
    • LB E.J. Speed
    • S Armani Watts
    • DT Chris Williams (ERFA)

    Defensive End Yannick Ngakoue

    Spotrac’s calculated market value: Four years, $59.2 million ($14.8 million AAV)

    Overview: The Colts traded for Ngakoue last offseason to get sacks, and he delivered. But a deeper examination of his season will reveal some flaws in his game. Ngakoue didn’t create pressure in 2022 as well as in 2021, and run defense has never been his strength. Still, someone will pay a sub-30 pass rusher with more than 60 tackles to his name.

    Linebacker Bobby Okereke

    Spotrac’s calculated market value: Two years, 4.7 million ($2.3 million AAV)

    Overview: Okereke is just a solid football player. He does a solid job defending the run. He does a solid job covering tight ends and running backs. And he does an excellent job of getting an opponent on the ground. Our guess is Spotrac is undervaluing him.

    Potential Cut Candidates

    • DT DeForest Buckner ($19.8 million in cap savings)
    • C Ryan Kelly ($7.9 million)
    • CB Kenny Moore ($7.5 million)

    Colts’ Team Needs Heading Into 2023 Offseason

    • Quarterback
    • Offensive Tackle
    • Wide Receiver
    • EDGE
    • Tight End

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