Indianapolis Colts News & Rumors

Contract Details: Horn, Pats, Pack, Vikings

It’s that time of year. It is time to begin sorting through the contracts agreed to early in free agency. We will start with some of the biggest deals to emerge this week.

  • Jaycee Horn, CB (Panthers). Four years, $100MM. Horn’s Carolina extension covers $72MM in total guarantees (second among CBs) and $46.7MM at signing (first). Horn’s 2025 and ’26 base salaries are fully guaranteed; his $15.74MM 2027 base salary will shift from an injury guarantee to a full guarantee on Day 3 of the 2026 league year, KPRC2’s Aaron Wilson tweets. Additionally, $7.1MM of Horn’s $21.7MM 2028 base is already guaranteed for injury, per Wilson. That amount will shift to a full guarantee on Day 3 of the 2028 league year.
  • Milton Williams, DT (Patriots): Four years, $104MM. Williams will see $63MM in total guarantees and $51MM at signing, per OverTheCap. Williams’ 2027 base salary ($27MM) is guaranteed for injury; it will shift to a full guarantee if he remains on New England’s roster on Day 3 of the 2027 league year, Wilson tweets.
  • Aaron Banks, G (Packers). Four years, $77MM. Only a $27MM signing bonus is guaranteed, via OverTheCap, as the Packers do not usually include guaranteed salary beyond Year 1. Banks is due a $9.5MM roster bonus on Day 3 of the 2026 league year, Wilson notes. The same structure is in place for 2027, with another $9.5MM bonus due. These represent future guarantee dates on this year-$20MM-AAV accord, though the Pack — as they do with Josh Jacobs — will have a natural out after Year 2 of the deal.
  • Byron Murphy, CB (Vikings): Three years, $54MM. This is significantly lower than initially reported (via NFL.com’s Mike Garafolo), as Murphy can only reach the $22MM-AAV number through incentives. Murphy’s first two base salaries are fully guaranteed, per Wilson. Rather than being the NFL’s fourth-highest-paid CB, Murphy is tied for 13th after the true AAV emerged.
  • Charvarius Ward, CB (Colts): Three years, $54MM. This one had the correct value from the start, as Murphy’s subsequent Vikings deal matched these terms. Ward will see $27MM at signing. To reach the $34.98MM total guarantee, he must remain on Indianapolis’ roster past Day 5 of the 2026 league year. As $5MM of Ward’s $12.98MM 2026 base salary is guaranteed at signing, the rest locks in on that March 2026 date, Wilson tweets.
  • Jonathan Allen, DL (Vikings): Three years, $51MM. This also checks in lower (via Garafolo) than initially reported, which is not uncommon. Half of Allen’s $16MM 2026 base salary is guaranteed at signing, with the other half (via Wilson) locking in if the D-lineman is on Minnesota’s roster come Day 3 of the 2026 league year.
  • Jamien Sherwood, LB (Jets). Three years, $45MM. The Jets are guaranteeing $30MM, as ESPN.com’s Rich Cimini notes this is the second-biggest LB guarantee the team has authorized (after C.J. Mosley‘s then-record FA deal in 2019). The Jets included a $7.5MM option bonus due at any point before Week 1 of the 2026 season, Wilson notes. This, along with three void years, will reduce Sherwood’s cap hits; he will not carry a figure north of $11.5MM until 2027.
  • Drew Dalman, C (Bears): Three years, $42MM. $26.5MM of Dalman’s $28MM guarantee comes at signing, giving the ex-Falcons center the second-biggest center guarantee (passing Lloyd Cushenberry‘s 2024 Titans FA deal). $9.5MM of Dalman’s $11MM 2026 base salary is fully guaranteed at signing, per Wilson. The other $1.5MM vests if/once he is on Chicago’s roster on Day 3 of the ’26 league year. Dalman’s 2027 salary is nonguaranteed.

Colts, Daniel Jones Agree To Deal

Daniel Jones was known to be facing a Vikings-or-Colts decision and he has made his choice. The former Giants starter is heading to Indianapolis on a one-year deal, as first reported by Ian Rapoport and Tom Pelissero of NFL Network.

Earlier today, ESPN’s Stephen Holder confirmed Jones was down to either remaining in Minnesota or heading to Indianapolis. Both teams were waiting to see which direction he went, with the call deciding how each would operate under center for the rest of the offseason. After taking Monday to weigh his options, Jones has made a commitment.

This pact will be worth $14MM, ESPN’s Adam Schefter adds. That figure represents the base value of the contract, as Pelissero notes Jones can earn up to $17.7MM. The Colts have their veteran Anthony Richardson competition in place for 2025. $13.15MM is fully guaranteed, per Sports Illustrated’s Albert Breer, with Pelissero adding that number is comprised of a $6.5MM signing bonus and $7MM in guaranteed salary. The maximum value of the deal can be unlocked via $850K in active roster bonuses ($50K per game) and playing time/wins/playoffs incentives.

The Vikings made a push to retain Jones, Rapoport reports. To little surprise, though, the chance to earn a starting gig represented a key factor for the former No. 6 pick. Richardson has not developed as planned early in his career, and Colts GM Chris Ballard made it clear his inconsistent play and injury troubles would lead to a veteran addition capable of handling QB1 duties. At a minimum, Jones will able to provide the team with an experienced backup, though Pelissero confirms an open competition is on tap. Indeed, Jones confirmed he was told he would have an opportunity to compete with Richardson (via James Boyd of The Athletic (subscription required)).

The 27-year-old raised eyebrows when he received a four-year, $160MM Giants deal in 2023. That pact – authorized by a Joe Schoen-Brian Daboll regime which did not draft him – did not pan out as planned, and midway through the past campaign his benching was followed up by his release. Minnesota added him on the practice squad with the potential to remain in place for 2025.

That especially remained true in the wake of Sam Darnold turning his Pro Bowl Vikings season into a lucrative Seahawks agreement. With Jones now out of the fold, though, Minnesota is set to rely on 2024 first-rounder J.J. McCarthy as their starter moving forward. The 22-year-old missed his entire rookie campaign due to a meniscus tear, but he will be healthy in time for the 2025 season. A modest free agent signing can be expected to operate as his backup.

Richardson earned the starting gig right away as a rookie, but he was limited to only four games that year due to a shoulder injury. The 2023 No. 4 pick managed 11 appearances this past season, but he was temporarily benched in favor of Joe Flacco as the Colts offense underperformed. Richardson, 22, posted a completion percentage of just 47.7% and a negative touchdown-to-interception ratio last season. A notable step forward will be required in 2025, and the first step in his efforts in that regard will involve winning an offseason competition with Jones.

Minor NFL Transactions: 3/11/25

Here are today’s minor moves from around the NFL:

Buffalo Bills

Chicago Bears

Dallas Cowboys

Detroit Lions

Houston Texans

Indianapolis Colts

Kansas City Chiefs

Los Angeles Rams

Miami Dolphins

New Orleans Saints

Tennessee Titans

Washington Commanders

Anger is a 13-year veteran who has spent the last four years in Dallas, which included Pro Bowl and second-team All-Pro honors in 2021 and 2023. He will stay with the Cowboys on a two-year deal, per ESPN’s Todd Archer.

Tonyan had a few strong seasons in Green Bay earlier in his career, but he has struggled to produce over the last two years. He spent 2024 in Minnesota, but only played 15 snaps on offense with zero targets. He will add tight end depth in Kansas City.

Stoops received a two-game suspension for violating the NFL’s Performance-Enhancing Substances Policy, per NFL Network’s Tom Pelissero. He will be eligible to participate in training camp and preseason games, but will be sidelined for the first two games of the regular season.

McNichols is staying in Washington on a one-year deal, according to Pelissero. The seven-year veteran appeared in 17 games for the Commanders in 2024 and rushed for 261 yards and four touchdowns on 55 attempts. McNichols will likely continue as Washington’s RB3 behind Brian Robinson and Austin Ekeler.

Vikings, G Will Fries Agree To Deal

The Vikings added one former Colt along the offensive line in the form of center Ryan Kelly yesterday, and another is also headed to Minnesota. Guard Will Fries has a deal in place, ESPN’s Jeremy Fowler reports.

This will be a whopping five-year, $88MM pact, Fowler adds. KTSP’s Darren Wolfson’s reported yesterday that the sides were discussing a deal, so it comes as little surprise one has now been worked out. Fries will face massive expectations upon arrival given the nature of this commitment.

Fries does not have a connection to Ryan Grigson like Kelly does, as Fries is a first-time free agent who had joined the Colts in the 2021 draft. Despite not joining a team on Day 1 of the legal tampering period, Fries will cash in. While this is on the longer end of the term-length spectrum — especially as the cap has climbed like his has this decade — Fries is receiving a big number to join the Vikings. Guarantees will provide more illumination, but it is clear Minnesota eyed Fries from the start.

The Vikings have been busy Tuesday, agreeing to deals with two high-profile street free agents (Jonathan Allen, Javon Hargrave) to beef up their defensive line alongside Harrison Phillips while adding Fries as their other new piece with Kelly. The two Colts defections come as Indianapolis added long-rumored Minnesota Sam Darnold fallback option Daniel Jones. As Jones prepares to take a run at another starting job, two Colts blockers will prepare to help J.J. McCarthy transition after missing his rookie season.

A Colts starter for roughly two seasons, Fries is coming off a season-ending injury. He sustained a broken leg early last year; that halted considerable momentum. The fifth-year veteran is not yet 100%, per ESPN.com’s Stephen Holder, but all indications point to him having no issues being ready for next season on time. This contract certainly displays Vikings confidence on this front. The Vikings needed to go big for Fries, whom the Colts tried to re-sign. Pushes from the Patriots, Giants, Seahawks and Cardinals drove the market to this place, SI.com’s Albert Breer notes, as Fries did very well for himself despite the early-season injury.

Fries, who emerged out of the 2021 seventh round, graded as the league’s second-best guard (per Pro Football Focus) and had won his run- and pass-blocking matchups at a career-best rate (per ESPN) before the Week 5 setback. This came after a 17-start 2023, as Fries had taken over for less effective starter Danny Pinter during the 2022 season.

Not on the younger end among this year’s free agent class, Fries (27 in April) will be asked to start at one of the Vikings’ guard spots. Former second-round pick Ed Ingram‘s Vikings future is in doubt, after a 2024 benching, and Dalton Risner — who has not seen free agent markets come close to Fries’ new level — is again out of contract.

Adam La Rose contributed to this report.

Minor NFL Transactions: 3/10/25

Here are today’s minor NFL moves that may have been missed during an otherwise extremely busy first day of the tampering period:

Arizona Cardinals

Chicago Bears

Denver Broncos

Detroit Lions

Indianapolis Colts

Jacksonville Jaguars

Kansas City Chiefs

Las Vegas Raiders

Miami Dolphins

Minnesota Vikings

New England Patriots

New Orleans Saints

New York Giants

San Francisco 49ers

Tennessee Titans

Washington Commanders

Colts, CB Charvarius Ward Agree To Deal

Chris Ballard‘s January comments about an organizational shift have led to big-ticket investments in outside free agents. While that has not been a Colts staple under the current GM, it has shaped the team’s start of free agency.

After the Colts added Camryn Bynum, ESPN’s Adam Schefter reports they have a deal in place with Charvarius Ward. The former Chiefs and 49ers starter is heading to Indianapolis on a three-year deal worth up to $60MM. The seven-year vet will receive $35MM guaranteed, with $20MM of that including a $20MM signing bonus.

The 49ers’ Deommodore Lenoir payday pointed Ward out of town, and he indeed is done in San Francisco after three seasons. Ward, 28, helped the 49ers to Super Bowl LVIII — a second-team All-Pro season for the talented boundary cornerback — and he was a key part of their top-tier defensive effort in 2022 as well. Last season did not go as well for Ward (or most other 49ers), but he still commanded considerable market interest today.

Intercepting five passes in 2023, Ward broke up an NFL-most 23 that season. Playing for two of this era’s most reliable teams, Ward has played in 17 playoff games. That includes three Super Bowls and six conference championship games. Last season’s 49ers step off the Super Bowl radar brought some potentially concerning Ward developments — during a season in which he also missed five games.

After allowing 56.8% and 54.1% completion rates as the closest defender in 2022 and ’23, Ward yielded 61.5% accuracy last season. This corresponded with a rise in passer rating allowed (116.6 – up from 2023’s 64.5 number). PFF had rated Ward as a top-six corner in both 2022 and ’23, but it dropped him to 93rd during Nick Sorensen’s season in charge. New Colts DC Lou Anarumo faced Ward on a few occasions during the latter’s Kansas City stay, and he certainly appears to believe more quality play will be in store on the former UDFA’s third contract.

Monday will bring a high-end talent to a secondary in need, as Ward joins slot staple Kenny Moore at corner while Bynum will accompany breakout performer Nick Cross at safety. After the Colts dropped to 26th in pass defense last season, Ballard is backing up his talk on adding reinforcements to a largely homegrown roster.

Colts, S Camryn Bynum Agree To Deal

The Colts’ first agreement of the day is a lucrative one. Safety Camryn Bynum is set to join the Colts on a four-year, $60MM contract, NFL Network’s Tom Pelissero reports.

Bynum’s work in Brian Flores‘ defense will secure him a upper-crust safety payday. More notably, this is a big-ticket outside free agency addition from the Colts, who have been hesitant to explore these avenues — for the most part — under GM Chris Ballard. The veteran front office boss pointed to a philosophical shift this offseason, however, and Bynum will be a big part of that.

A homegrown secondary has not produced positive results for the Colts, who struggled against the pass for much of Gus Bradley‘s three-year tenure. Lou Anarumo is now in place as Indianapolis’ DC. Anarumo’s Bengals defense missed Jessie Bates over the past two seasons; the veteran defensive play-caller will now have another young safety talent in his secondary.

This brings a potentially significant loss for the Vikings, who have Harrison Smith going into what would be an age-36 season. The Minnesota staple is contemplating retirement. The Vikes also have Byron Murphy and Stephon Gilmore in free agency, creating big-picture questions in their secondary. Rumblings about a Vikings-Bynum re-signing did not produce a deal, however, and the Colts will bet on the former fourth-round pick.

Bynum, who is going into an age-27 season, had been a quality role player on a Vikings defense that made major strides during Flores’ two seasons. Pro Football Focus viewed Bynum as taking a step back in his contract year, ranking him outside the top 60 after a 21st-place assessment in 2023. Though, Bynum has been durable (51 starts since 2022) and intercepted eight passes on his rookie deal. Bynum also forced three fumbles in 2023. The Cal product also made a substantial impact as a tackler, registering 137 in 2023 and 96 last season.

The Colts have Julian Blackmon again in free agency, and after a breakthrough Nick Cross season, the former third-round pick is in a contract year. Bynum’s deal may well impact Cross’ future, but as of now, the Colts do not have too much money allocated elsewhere in their secondary.

Vikings Considering Re-Signing Daniel Jones; Colts In Play For QB?

MARCH 9: As Darnold nears a trip to free agency, Dianna Russini of The Athletic reports retaining Jones is still a distinct possibility. The Colts are the other top contender in this situation, she adds. Other quarterbacks will no doubt receive more attention over the coming days as the early portion of free agency unfolds, but Jones could have his next deal in place rather soon.

MARCH 2: Lost in the shuffle among this year’s free agent quarterback crop, Daniel Jones still looms as a potential bridge option for a team. After Geno Smith, Baker Mayfield and Sam Darnold rejuvenated their careers on one-year deals in recent years, Jones could be in play for a team eyeing a similar rebound for a once-highly regarded prospect.

Jones had more time with his initial team (by a wide margin) than those players, potentially reducing the chances he can still be a starter-caliber passer, but interest remains in the six-year Giants starter. Holding exclusive negotiating rights with Jones until March 10, the Vikings remain in play to re-sign him in a plan that would not include Darnold.

As Minnesota has until 3pm CT March 4 to use its franchise tag on Darnold, the team could go with a cheaper plan while passing on cuffing its 2024 starter. The prospect of the Vikings re-signing Jones as J.J. McCarthy insurance is believed to be a true consideration, ESPN.com’s Jeremy Fowler notes. This would set Darnold up to hit the market as the top QB option and essentially thrust Jones into the role Darnold held going into the Vikes’ 2024 offseason program. This is not the first time Jones taking Darnold’s Twin Cities spot has come up.

Although a report pegged McCarthy as having work to do — following two knee surgeries — to solidify himself as the Minnesota starter, Fowler pushes back on that by indicating the Michigan alum has already shown he can be the team’s franchise QB. Considering McCarthy lost his entire rookie year due to a meniscus tear, it would be difficult for the Vikings to truly express confidence in their preferred 2025 option being ready. But the team showing this much confidence already would seem to point Darnold out of town.

The Vikings signed Jones to their practice squad last November, keeping him there until January. Jones was not active for Minnesota’s wild-card game, separating this from the situation in which Mayfield used a Rams stopover to help generate some momentum. Jones has next to no momentum after disappointing on his four-year, $160MM Giants extension, but he is a former No. 6 overall pick who will only be going into his age-28 season. Considering Kevin O’Connell‘s acumen coaching QBs, Jones on a bridge deal would be a sensible option for a Vikings team with lucrative contracts at receiver and tight end.

Minnesota has still kept its Darnold card close to the vest, though it would seem the only way he would stay is in the case of a franchise tag, which a recent report tabbed as unlikely. Darnold has a chance to score a much bigger contract, after making the Pro Bowl on the original ballot in a 2024 breakthrough, compared to the one-year, $10MM he inked with the Vikes last March. While his exit would allow for Jones to take his place, Darnold receiving the tag would force Jones to look elsewhere. Even if the Vikings do not tag Darnold, they would need to fend off other suitors for Jones.

One could be the Colts, whom Fowler adds he heard connected to Jones on multiple occasions recently. The Colts are ready to insert Anthony Richardson into a legitimate competition. While the team would understandably hope the former No. 4 overall pick wins it, Richardson’s rampant accuracy issues — before and after a midseason benching — have created a need in Indianapolis. A Jones-Richardson competition would not exactly inspire confidence, but Shane Steichen also played a key role in developing Jalen Hurts. The Colts would hope he can do more with Jones than Brian Daboll could.

Justin Fields, Trey Lance and a Jacoby Brissett reunion are also believed to be options for the Colts, Fowler adds. Indy would need to pay up for Fields, who has been connected to just about every QB-needy team this offseason. The Steelers appear to have him prioritized over Russell Wilson, while the Giants, Jets and Raiders are also being tied to the 2021 first-rounder. Lance-Richardson would be a wild matchup, like a crossroads fight in boxing, as both have not come close to justifying their draft slots. Lance also would not bring much insurance, given his struggles and inexperience.

Brissett has a history of helping the Colts out as a short-term solution, being an emergency Andrew Luck fill-in in 2017 and 2019. He signed a two-year, $30MM Colts extension but left in free agency after backing up Philip Rivers in 2020. Brissett has signed one-year deals in each of the past four offseasons and is unlikely to stay with the Patriots.

Vikings Not Expected To Re-Sign Sam Darnold; Daniel Jones, Aaron Rodgers On Radar

Friday’s Raiders-Seahawks trade has shaken up the quarterback market. As Geno Smith‘s relocation moved the Seahawks into the group of teams needing a quarterback, Sam Darnold immediately became connected to Seattle. That has changed his status with the Vikings.

Although the Vikings came out of the franchise tag deadline with interest in retaining their 2024 starter at a lower rate, that no longer looks to be in play. In the wake of the Smith trade, NFL.com’s Tom Pelissero reports the Vikings are not expected to re-sign Darnold. They are now focused on other options.

As J.J. McCarthy moves closer to the starting role, a Darnold defection will allow the Vikes to focus on a cheaper option. On that note, Daniel Jones remains in play to stay. Jones will not bring nearly the price tag Darnold will, but the Vikings might not be the only team that views the ex-Giant as a player who could conceivably traverse the Smith, Darnold and Baker Mayfield trajectory. A Colts-Jones link emerged earlier this week, and NFL.com’s Ian Rapoport confirms Indianapolis will be a factor for Jones as they search for a veteran to compete with Anthony Richardson.

In addition to Jones, a much bigger name lurks. As the Giants have been the team primarily linked to Aaron Rodgers, Rapoport adds the Vikings loom as a dark horse for the future Hall of Fame quarterback. Yes, Rodgers continuing to follow Brett Favre‘s late-2000s career path appears realistic. McCarthy is on track to practice in the spring, per Pelissero, but the Vikings remain expected to add a veteran as a stopgap — at the very least. Rodgers having options may dissuade him from a placeholder scenario like this, but it is not like the Giants would call it a day if they signed the 41-year-old QB.

Rodgers’ path to Minnesota would be slightly different than Favre’s, as the latter’s Packers successor spent two seasons with the Jets as opposed to one. A since-outlawed poison-pill provision stipulated the Jets would have needed to send the Packers three first-round picks had they traded Favre to the Vikings — the QB’s first choice back when Rodgers took over in Green Bay. After Favre retirement No. 2, the Jets merely cut Favre and watched as he joined the Vikings months later. He spent two years in Minnesota, with the first season going much better than the second. Rodgers is about to be cut, and Minnesota needs a veteran.

With no prospect on the Giants’ roster just yet, Rodgers could have a chance to be a full-season starter with the Big Apple’s NFC team. Though, the Giants have been closely tied to a trade-up for Cam Ward. Still, that is not a lock to take place. A veteran who joins Big Blue has a clearer path to keeping the job throughout 2025 compared to one who signs with the Vikings, who are close to beginning McCarthy’s time as a first-stringer. That will affect Minnesota’s QB approach.

The Vikings had elevated Jones from their practice squad late last season but did not dress him as Darnold’s backup in their wild-card game. Nick Mullens did so, but Jones — after six seasons of starter work with the Giants — would be in place to become McCarthy’s primary 2025 backup if he re-signs.

As Darnold’s market soared thanks to his bounce-back season in Kevin O’Connell‘s QB-friendly offense, Jones staying has always loomed as a possibility. With Darnold-Seahawks ties quickly emerging after the Raiders’ Smith acquisition, Jones being a much cheaper post-Darnold solution is not too difficult to envision. Will Jones be the Vikings’ preference to Rodgers?

Colts Release DT Raekwon Davis

Instead of playing out the final year of his Colts contract, Raekwon Davis will immediately reach free agency. The veteran defensive tackle was released on Thursday, per a team announcement.

The move comes as little surprise. Davis was due $6.49MM in 2025, but none of his base salary for the season was guaranteed. Instead of carrying him at a cap it of $8.96MM, Indianapolis will move on. This release will generate $6.46MM in savings while creating a dead money charge of $2.5MM.

Davis played out his rookie contract with the Dolphins from 2020-22. Over that span, the former second-rounder logged 48 starts, but he was unable to cement himself as a mainstay along the defensive line. After showing limited upside against the pass during his Miami tenure, Davis took a deal with an average of $7MM during his first foray into free agency. That marked a notable raise compared to his initial contract, but it illustrated a degree of hesitance on the Colts’ part.

During his debut Indy campaign, the Alabama product played in all 17 games. Davis did not register any starts, however, and his 30% snap share marked the lowest of his career. With the team set to rely on other options along the interior, this release will allow for a brief period to gauge the market prior to the start of the new league. Interest could be limited in Davis’ case, although at the age of 27 he will be among the younger options to choose from in free agency.

As a result of this move, the Colts have more than $40MM in cap space. General manager Chris Ballard made it clear this offseason he and the team will opt for a philosophical shift in roster building, with a greater emphasis being placed on outside additions. That route did not go as planned in Davis’ case last spring, but the resources to try again in 2025 are available.